Long term fixed rate bonds are best suited to savers who are willing to lock away their funds for a number of years and receive a fixed rate of interest.
With providers launching new deals with competitive rates on a regular basis, there are plenty of products to choose from. Here is a snapshot of the best five year fixed rate deals currently available.
West Bromwich Building Society – E Saver 32
This bond pays a rate of 5.45 per cent and matures on 31st July 2014. Savers can also choose a monthly interest option, at a lower rate of 5.32 per cent. Investments range from £5,000 to £1 million, with a minimum balance of £5,000. This account is available online only for customers aged 18 or over. Early access and further additions are not permitted.
Barnsley Building Society – Online Bond
Barnsley Building Society offers a range of fixed rate bonds for online savers. The highest rate is at 5.40 per cent, fixed to 30th September 2014. The account allows savers, aged 16 or over, to invest between £100 and £500,000. Further additions are allowed while the issue remains open. A monthly interest option is available at 5.27 per cent.
Aldermore – 5 Year Fixed Rate Account
Aldermore, formerly known as Ruffler Bank, pays a rate of 5.40 per cent on its 5 year fixed rate bond account. Interest is paid on the anniversary of the bond, although a monthly interest option is available at a slightly lower rate of 5.27 per cent. Investments range from £1,000 up to £1 million. This account is available to savers aged 18 or over and can be operated in branch, by post or telephone. Early access and further additions are not permitted.
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 Any products featured may be withdrawn by their provider or changed at any time.
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