Buckinghamshire BS has launched a new fixed term fixed rate savings account that is the market leader in its field.
The Chiltern Gold Mine is a one year fixed term fixed rate account which pays a rate of 6.25% on maturity on a minimum monthly investment of £50 (maximum £250).
Twelve consecutive payments are required to benefit from this top rate. The payment amount cannot be altered during the term and no extra payments are permitted. Missing a payment will result in a nominal amount of interest being paid, while money must be new to the institution.
Buckinghamshire's expansion of its savings portfolio is welcome news to savers who can afford at least £50 a month.
While it is important to decide how much to put away each month, investors should act quickly as this top paying rate may not be around for too long.
The product has been awarded four out of five Moneyfacts stars.
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