AA has launched a new five year fixed term bond that sits within the top six in its class.
The 5 Year Fixed Rate Saving is a postal operated account that pays a yearly investment of 5.15% (5.03% monthly) on a minimum investment of £500.
Early access is subject to 365 days' loss of interest in year one, 320 days in year two, 270 days in year three, 180 days in year four and 90 days in year five.
Additions are permitted whilst the issue remains open on this account, which can be applied for online or over the phone.
It is good to see AA re-enter the highly competitive long term market with this bond that should prove popular with those who are happy to bank by post. The low minimum investment and monthly interest options will also boost its appeal.
The bond has been awarded four out of five Moneyfacts stars.
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