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Product focus: Fixed rate bonds

Product focus: Fixed rate bonds

Category: Savings

Updated: 28/01/2010
First Published: 08/09/2009

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 It is now over 6 months old so the content may be out of date.

Latest Moneyfacts.co.uk data shows that in August, 37% of consumers searching for a new savings account were looking for fixed rate investments, compared to 27% searching for easy access. With base rate predicted to be low for a while, savers are looking to lock their money in to higher fixed rates.

Chelsea Building Society – Summer Bond 2009

Savers looking to lock their money in only for a few months are being offered a rate of 3.70pc from Chelsea Building Society on its short term Summer Bond 2009. Between £1,000 and £500,000 can be invested into the bond, which matures on 22nd March 2010. Further additions can be made into the bond whilst the issue remains open, but access is not permitted during the term of the deal.

Post Office – One Year Growth Bond

Those looking to commit funds for one year can get a rate of 3.85pc from the Post Office. The account can be operated in branch, online or by post or telephone and savers can invest between £500 and £1m. Once opened, further additions and access is not permitted during the term.

AA – Internet 2 Years Fixed Rate Bond

The AA is offering the market leading rate for savers looking to commit funds for two years. Its Internet 2 Year Fixed Rate Bond is paying 4.35pc, or 4.27pc for those opting for monthly interest. Savers can invest between £500 and £5m into the online operated account, with further additions permitted whilst the issue remains open. Access to funds is available during the term, subject to 90 days' loss of interest.

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 Any products featured may be withdrawn by their provider or changed at any time.

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