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Category: Savings Date: 7/30/2010
Savers who wish to invest their money over a long term period can enjoy some of the best rates in the market at the moment. Some fixed rate bonds allow early access to funds, however, this is often subject to penalty such as loss of interest. Here is a selection of the current top five year fixed rate bonds.
AA –Five Year Fixed Rate Savings
This account pays 4.55pc on its anniversary. A monthly interest option is available at 4.46pc. Savers can invest between £1 and £5m and further additions can be made whilst the issue remains open. Early access is allowed, subject to penalty depending on the outstanding term as follows: One year or less, 90 days; one to two years, 180 days; two to three years, 270 days; three to four years, 320 days and four to five years, 365 days. The account can be operated by savers aged 18 and over by post only.
Principality Building Society – Fixed Rate Bond 176
This account from Principality Building Society pays 4.25pc on its anniversary. A monthly interest option is available paying 4.17pc. Savers can invest between £500 and £1m and further additions are allowed whilst the issue remains open. Early access is allowed on closure only, subject to 360 days loss of interest. The account is available to savers of all ages and can be operated in branch and by post.
Northern Rock – Fixed Rate Bond Issue 401
Northern Rock's five year bond pays an annual rate of 4.25pc. A monthly interest option is available at 3.95pc. Savers can invest between £1 and £2m and further additions can be made whilst the issue remains open. Early access is not permitted. The account is available to savers of all ages and can be operated by post only.
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 Any products featured may be withdrawn by their provider or changed at anytime.
