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Product focus: One year fixed rate bonds

Product focus: One year fixed rate bonds

Category: Savings

Updated: 04/08/2010
First Published: 04/08/2010

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 It is now over 6 months old so the content may be out of date.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 economists will be expecting the Monetary Policy Committee to announce a 'hold' status on interest rates later this week.

Just exactly when interest rates will begin to rise remains to be seen. Some have speculated that it will occur early during 2011, while others believe it will be much later, around the end of 2011.

Cautious savers who want the reassurance of a guaranteed return may be best suited a short term fixed rate bond.

Here is a selection of the current best one year bonds.

Northern Rock – Fixed Rate Bond Issue 398

This account pays an annual rate of 3.00%. A monthly interest option is available at 2.70%. Savers can invest between £1 and £2 million and further additions can be made whilst the issue is open. Early access is not allowed. The account is available to savers of all ages and can be operated by post only. Apply Now

Santander – 1 Year Fixed Rate Bond

Santander's one year bond pays 2.80% on maturity. A monthly interest option is available at 2.76%. Savers can invest between £1 and £2 million. Further additions and early access are not allowed. The account can be operated in branch, by telephone and online by savers of all ages. Apply Now

Dunfermline Building Society – Fixed Rate Bond Issue 81

This account pays an annual rate of 2.75%. A monthly interest option is also available at 2.72%. Savers can invest between £100 and £1 million and further additions can be made whilst the issue remains open. Early access is not allowed. The account can be operated in branch, by post or telephone by savers aged 16 and over.

Find the best savings accounts for you - Compare 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 Any products featured may be withdrawn by their provider or changed at any time.

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