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Product focus: Fixed rate bonds

Product focus: Fixed rate bonds

Category: Savings

Updated: 28/01/2010
First Published: 22/09/2009

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 It is now over 6 months old so the content may be out of date.

Many savers rely on interest from their money to provide them with a regular income. For some savers, particularly older ones, this can be their main source of income. With rates typically around 2.00pc higher on fixed rate bonds than on easy access accounts, many savers are prepared to lock their money away, providing the bond comes with a monthly interest option.

Aldermore – Four Year Fixed Rate Bond,

Aldermore is offering the market leading rate on the market for monthly interest paying 5.03pc on its Four Year Fixed Rate Bond.Savers can invest between £1,000 and £1m into the bond, which is operated online, by post or telephone. Once opened, earlier access and further additions are not permitted.

Barnsley Building Society – Online Bond

Barnsley Building Society is offering a rate of 4.70pc on its Online Bond, which matures on 28 February 2013. Savers can invest between £100 and £2m into this online operated bond, with further additions permitted whilst it remains open. Before committing funds, savers need to ensure they won't need the money as access is not permitted during the term.

Chelsea Building Society – Summer Bond (No Access) 2 Year Option

Chelsea Building Society is offering the highest rate on the market for those looking to commit funds for two years. The Summer Bond matures on 3 October 2011 paying 4.31pc. Between £1,000 and £500,000 can be invested in the bond, which is operated in branch or by post. Access is not permitted during the term, but the provider offers a two year bond paying 3.93pc for savers requiring access.

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 Any products featured may be withdrawn by their provider or changed at any time.

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