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Product focus: Branch based banking

Product focus: Branch based banking

Category: Banking

Updated: 03/09/2010
First Published: 03/09/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Despite the online banking phenomenon, there are still some people who prefer a traditional approach to conducting their finances.

Branch-based banking offers a personal, face to face service and there are a host of savings products available in the market.

Here is a selection of the current best five year fixed rate bonds.

Progressive Building Society – Limited Issue Five Year Fixed Term Bond Issue 17

This account pays an annual rate of 4.30%. Savers can invest between £500 and £1m, although those opting for the monthly interest option, at 4.15%, must make a minimum deposit of £5,000. Further additions can be made whilst the issue is open. Early access is not allowed. The account can be operated by savers of all ages, either in branch or by post.

Principality Building Society – Fixed Rate Bond 176

Principality Building Society's five year bond pays 4.25% on its anniversary. A monthly interest option is also available at 4.17%. Investments range between £500 and £1m and further additions can be made whilst the issue remains open. Early access is allowed on closure only, subject to 360 days loss of interest. The account is available to savers of all ages and can be operated in branch or by post.

Nationwide Building Society – 5 Year Fixed Rate Bond

This bond pays an annual rate of 4.10%. A monthly interest option is available at 4.00%. Savers can invest between £1 and £2m. Further additions are not permitted. Early access is allowed on closure only, subject to 365 days loss of interest. The account is available to savers aged 7 years and over and can only be operated in branch.

Find the best savings rates for you - Compare savings accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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