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Product focus: Bonds with £1 minimum investments

Product focus: Bonds with £1 minimum investments

Category: Savings

Updated: 29/09/2010
First Published: 29/09/2010

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 It is now over 6 months old so the content may be out of date.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 often require a large initial deposit when opening an account; however, there are a range of accounts for savers who have limited funds available.

Here are the current top three bonds fixed for one year that require a minimum deposit of just £1.

Northern Rock – Fixed Rate Bond Issue 412 until 1.10.11

This account from Northern Rock pays a rate of 3.00% for term until 1.10.11. Interest is paid yearly and the investment can range between £1 and £2m. The account is operated by post but applications can be handed in at any branch. Northern Rock also has an online version paying the same rate until 20.10.11 with maximum investment of £250K.

Bank of Cyprus UK – Bank of Cyprus UK Bond 110

This account pays a rate of 2.80% on maturity. Between £1 and £1m can be invested, although further additions are not permitted. Early access is not allowed. Interest is paid in gross on balances over £50,000. The account is available to savers of all ages and can be operated in branch, by post, telephone or online.

Santander – 15 Month Fixed Rate Bond

Santander's fifteen month bond pays a rate of 2.75% to 1.1.12 and interest is paid annually. For those customers who can manage a deposit of £10K, the interest rate escalates to 3.00%. Early access is not allowed and no further additional deposits are permitted. The account can be operated by telephone, online or at the branch.

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 Any products featured may be withdrawn by their provider or changed at any time.

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