Birmingham Midshires impresses with four year bond - Savings - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Birmingham Midshires impresses with four year bond

Birmingham Midshires impresses with four year bond

Category: Savings

Updated: 17/03/2010
First Published: 17/03/2010

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 It is now over 6 months old so the content may be out of date.

Birmingham Midshires has re-entered the fixed rate savings account market, impressing with a four year bond that sits amongst the sector's market leaders.

The four year fixed rate bond is a postal operated account with a minimum investment of £1 paying a yearly rate of 4.15% (4.07% monthly).

Earlier access is subject to 320 days loss of interest in year one, 270 days in year two, 180 days in year three, and 90 days in year four. Additions are permitted whilst the issue remains open.

Investors can apply online or over the phone, and money must be new to the institution.

Early access on funds is a plus but investors must be prepared to tie their money in for a longer period to fully benefit from the rate on offer. The monthly option should also appeal to those looking to supplement their income.

Four out of five Moneyfacts star have been awarded.

Compare long term 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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.