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Monmouthshire BS launches escalator bond

Monmouthshire BS launches escalator bond

Category: Savings

Updated: 17/12/2012
First Published: 18/04/2012

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 It is now over 6 months old so the content may be out of date.

Monmouthshire Building Society has re-entered the very limited escalator bond market with a highly competitive three year option.

The second issue of the 3 Year Stepped Fixed Rate Bond pays 3.00% in year one, 4.00% in year two and 5.00% in year five on a minimum investment of £5K (maximum £50K).

No additions can be made but, unlike many fixed bonds, early closure is permitted, although this incurs a 180 days' interest penalty.

Four out of five Moneyfacts Stars have been awarded.

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