Barclays launches two-year fixed-rate bond

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Barclays launches two-year fixed-rate bond

Barclays has launched a new two-year fixed-rate bond product, paying up to 3.7 per cent on savings.

Customers with balances over £50,000 can benefit from this top rate, while those paying in less than this will receive 3.3 per cent gross interest per annum.

The minimum investment is £500 and accounts are open to new and existing customers.

Andy Gray, head of mortgages and savings at Barclays, commented: "Our two year fixed rate is one of the best short-term rates available to savers, particularly at a time when some competitors have been cutting their rates."

He noted that the bond provides customers with a safe haven for their money, offering them the chance to secure high fixed-rate interest payments.

Barclays announced earlier this month that it has dropped the interest rate on its Barclaycard Platinum Simplicity card to 6.8 per cent, which applies to both purchases and balance transfers.

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