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Product focus: £1 minimum investment bonds

Product focus: £1 minimum investment bonds

Category: Savings

Updated: 02/07/2010
First Published: 02/07/2010

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 It is now over 6 months old so the content may be out of date.

Fixed rate bonds can sometimes be perceived as complicated investments, requiring hefty minimum deposits.

There are, however, a large number of accounts which require minimum investments of just £1 whilst still offering a reasonable and guaranteed rate of return.

Here is a selection of the current top five year fixed rate bonds which all require a minimum deposit of £1.

AA – 5 Year Fixed Rate Savings

This account pays 4.55% on its anniversary. A monthly interest option is also available at 4.46%. Savers can invest between £1 and £5 million and further additions are allowed whilst the issue remains open. Early access is allowed, subject to loss of interest as follows: For one year or less remaining, 90 days; one to two years, 180 days; two to three years, 270 days; three to four years, 320 days and for four to five years remaining, 365 days. The account is available to savers aged 18 and over and can be operated by post. Those applying for the account can do so online or by telephone.

Northern Rock – Fixed Rate Bond Issue 397

This account from Northern Rock pays an annual rate of 4.50%. A monthly interest option is also available at 4.20%. Savers can invest between £1 and £2 million and further additions can be made whilst the issue remains open. Early access is not allowed. The account is available to savers of all ages and can be operated by post only.

Nationwide Building Society – 5 Year Fixed Rate Bond

This account pays an annual rate of 4.25%. A monthly interest option is also available at 4.15%. Savers can invest between £1 and £2 million. Further additions are not allowed. Early access is allowed, subject to 365 days loss of interest. The account can be operated by savers aged 7 and over in branch only.

Find the best savings rates for you - Compare 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 Any products featured may be withdrawn by their provider or changed at any time.

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