Get 4.25% on a 2 year fixed rate bond! - Savings - News - Moneyfacts

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Get 4.25% on a 2 year fixed rate bond!

Get 4.25% on a 2 year fixed rate bond!

Category: Savings

Updated: 01/05/2014
First Published: 18/11/2011

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 It is now over 6 months old so the content may be out of date.

Close Brothers Savings are offering an amazing rate of 4.25% on their Premium Gold Fixed Term Account – but don't expect it to be around for long!

The best 2 year fixed rate bonds have previously been sitting around the 4.00% mark, but this new offering from Close Brothers stands head and shoulders above the competition. In fact, it's so far ahead, the rate of 4.25% is only 0.05% less than the best rate you could get on a 3 or 4 year fixed rate bond!

Fixed rate bonds - best rates

1 Year
3.60%
2 Years
4.25%
3 Years
4.30%
4 Years
4.30%
5 Years
4.70%

Information correct as at 18.11.11

Lock away your money for 2 years, but enjoy the rate of a 4 year bond!

So why the massive jump in rate between 1 and 2 years? Even the best bond in-between 1 and 2 years only pays 3.55%!

Well it's important to remember that, at present, this great rate is only being offered by one provider. If Close Brothers hadn't launched this bond, the best rate for a 2 year bond would only be 4.00%.

The one thing you can be sure of is that the rate of 4.25% will only be available for a very limited time – it may not even be available this time next week!

AER Details

Premium Gold Fixed Term Account


4.25%
  • Fixed for 2 years
  • Minimum investment £10,000
  • No early access

What's the catch?

So, obviously you need to have £10,000 to save which many of us haven't, so that will put this bond beyond the reach of a lot of savers. See our 2 and 3 year best buy bonds for lower deposit amounts.

The other "catch" is that there is no early access permitted. Some bonds will let you access money at the expense of an interest penalty. With this product though, you can't get at your money until the end of the term.

Who are Close Brothers Savings?

Close Brothers Savings may not be as instantly recognisable to you as big names like Lloyds, Barclays, Santander, HSBC or Nationwide, so here are a few facts about them:

What next?

Compare the best 2 and 3 year fixed rate bonds
Compare the best 1 year fixed rate bonds
Compare the best 4 and 5 year fixed rate bonds

Search all fixed savings bonds

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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