Product focus: One year fixed rate bonds - Savings - News - Moneyfacts

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Product focus: One year fixed rate bonds

Product focus: One year fixed rate bonds

Category: Savings

Updated: 22/01/2010
First Published: 16/12/2009

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 It is now over 6 months old so the content may be out of date.

For cautious savers who have a sizeable amount of money to lock away, one year fixed rate bonds may be the best option. It is always important to remember when the term of the deal ends, as funds will need to be transferred across to another account. Here are the current top three one year bonds. None of them allow further additions once the account has been opened.

Abbey – Super Bond Issue 14

For deposits of between £1 and £249,999, this account pays a rate of 5.00pc on maturity. For deposits of between £250,000 and £2m, a higher rate of 6.00pc is paid on maturity. A monthly interest option is also available at 4.89pc and 5.84pc with the same tiers. Early access to funds without penalty is on account closure only. Savers must be aged 18 and over and open or hold an existing Abbey savings and invest an equal amount in a qualifying investment product. The account can be operated in branch only.

State Bank of India – Hi Return Fixed Deposit

This account pays a rate of 3.75pc on the anniversary of its opening, for minimum deposits of £1,000. A monthly interest option is available at 3.68pc for deposits of £50,000 and above. No early access is allowed and customers must open or have an existing State Bank of India savings or current account. Interest can only be paid away on balances of over £50,000. The account can be operated in branch and by post by savers aged 18 and over. Dunfermline Building Society – Fixed Rate Bond Issue 59 The Scottish provider offers customers a range of fixed rate bonds. This account pays a rate of 3.75pc on maturity. A monthly interest option is also available at 3.65pc. Investments range from £100 to £1m. Early access is not allowed. The account can be operated by savers aged 16 and over in branch, by post or telephone.

Compare short term fixed rate bonds



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 Any products featured may be withdrawn by their provider or changed at any time.

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