fixed rate bonds offer savers the security of a rate set for a period of time. With short term accounts, savers can invest their money and know what their return will be after the fixed period.
If interest rates improve during the term, savers will not feel they are missing out, as they would if they had opted for a longer term. Early access to fixed rate accounts is often prohibited and savers can incur penalties if they attempt to.
Post Office – 1 Year Growth Bond Issue 9
This latest deal from the Post Office, operated by the Bank of Ireland, pays a fixed rate of 3.85 per cent on maturity. Early access and further additions are not permitted. Investments range from £500 up to £1 million. The account must have a minimum balance of £100. Interest on deposits of £50,000 or over is paid in gross. Minimum age for applicants is 16, while this account can be opened by an adult for a child.
Bank of Ireland – Limited Edition Fixed Term Deposit 14
Another reasonably new deal offered by Bank of Ireland, paying 3.80 per cent on maturity. Investment amounts range from a rather steep initial investment of £2,000 up to £1 million. This deal is available to personal customers depositing new or additional funds to the Bank of Ireland Group or depositing funds from a maturing Bank of Ireland Limited Edition fixed term deposit account.
Derbyshire Building Society – Fixed Rate Bond Issue 178.
This deal will pay a rate of 3.75 per cent on its maturity date of 31st August 2010. A monthly interest option is available at a slightly lower rate of 3.69 per cent. Savers can invest between £100 and £1 illionm, while a minimum balance of £100 must be maintained. Early access is prohibited, although further additions are allowed whilst issue is open. Minimum addition is £100.
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 Any products featured may be withdrawn by their provider or changed at any time.
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