New Barclays bond launched

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New Barclays bond launched

A new bond has been launched by Barclays which is being promised to bring strong returns.

The nine-month Fixed Rate Saving Bond allows customers depositing £50,000 to gain as much as £2,356 interest by the time the term matures, according to Barclays.

The minimum deposit is £5,000 and the maximum is £500,000.

No withdrawals, transfers or additional deposits are allowed during the term.

Lee Chiswell, head of savings at Barclays, said the bond is expected to be popular, stating: "There are strong, secure returns here, without being locked down for the long term."

Customers can buy the bond in branches or by telephone.

Earlier this month, Barclays reported that investors were capitalising on the dropping value of the pound.

With sterling hitting a record low against the euro and a two-and-a-half-year low against the dollar, currency investors were trading heavily in pounds and dollars.

On September 1, 86 per cent of all Barclays Stockbrokers trades were in this currency pair.

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