Birmingham Midshires has unveiled a new online 11 month fixed rate bond that pays 3.72% on maturity. The product requires a minimum investment of just £1 and while no early access is permitted, additions are allowed whilst the issue remains open. Its rate pays 0.72% more than the internet 1 year fixed rate bond which it replaces and goes straight into the top three of short term bonds available. A probable hit with consumers who prefer internet banking, its monthly option at 3.67% could well appeal to those who are looking to supplement their income. Clients should ensure they can commit to the full term as no early access is permitted. The online 11 month fixed rate bond earns four out of five Moneyfacts stars.
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