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Product focus: 5 yr Fixed rate bonds

Product focus: 5 yr Fixed rate bonds

Category: Savings

Updated: 01/08/2011
First Published: 27/07/2011

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 It is now over 6 months old so the content may be out of date.

Fixed rate bonds pay some of the most competitive rates in the savings market.

These accounts require investors to lock their money away for the duration of the term, with early access to funds often resulting in penalties such as loss of interest.

Here is a selection of some of the best five year rate bonds available at present.

Leeds Building Society - Fixed Rate Bond Issue 85

  • This bond pays an annual rate of 5.00% to savers with deposits between £100 and £1,000.
  • Further additions can be made whilst the issue remains open and withdrawals, of up to 25% of the capital invested, can be made prior to maturity.
  • The account is available to savers aged 18 and over and can be operated in branch only.

Birmingham Midshires - 5 Year Fixed Rate Bond

  • This deal pays a rate of 4.65% on its anniversary.
  • Investments range between £1 and £10 million and further additions can be made whilst the issue remains open.
  • Early access is allowed, subject to penalty depending on the outstanding term, as follows:
    • Up to five years, 365 days;
    • Three to four years, 320 days;
    • Two to three years, 270 days;
    • One to two years, 180 days
    • One year or less, 90 days.
  • The account can be operated by post by savers aged 16 and over.

SAGA - 5 Year Fixed Rate Savings

  • This account from SAGA pays 4.65% on its anniversary.
  • A monthly interest option is available paying 4.55%.
  • Savers can invest between £1 and £10 million and further additions can be made whilst the issue remains open.
  • Early access is allowed, subject to penalty depending on the remaining term, as follows:
    • Up to five years, 365 days;
    • Up to four years, 320 days;
    • Up to three years, 270 days;
    • Up to two years, 180 days
    • One year or less, 90 days.
  • The account is available to savers aged 50 and over and can be operated by post or online.

Find the best savings accounts for you - Compare long term fixed rate 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 Any products featured may be withdrawn by their provider or changed at any time.

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