Product focus: Short term fixed rate bonds - Savings - News - Moneyfacts

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Product focus: Short term fixed rate bonds

 Product focus: Short term fixed rate bonds

Category: Savings

Updated: 12/05/2010
First Published: 12/05/2010

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 It is now over 6 months old so the content may be out of date.

Despite the new Conservative Government's pledge to stabilise the economy, it remains to be seen as to what will transpire over the next few months.

One of the main concerns for savers is interest rates. Those looking to lock funds away in a fixed rate accounts will still want to play safe with a short term deal to avoid missing out on a better rate when interest rates increase.

Here is a selection of the current top three short term fixed rate bond accounts.

Shepshed Building Society – Fixed Rate Bond Issue 24

This account pays an annual rate of 3.00%. Savers can invest between £500 and £100,000, although the minimum investment for non-locals is £5,000. Early access and further additions are not allowed. The account is available to savers of all ages and can be operated in branch and by post.

Northern Rock – Fixed Rate Bond Issue 389

This account, which matures on 1 May 2011, pays an annual rate of 3.00%. Investments range between £1 and £2 million and further additions are allowed whilst the issue remains open. No early access is allowed. The account is open to savers of all ages and can only be operated by post.

Scottish Building Society – Treble 16 Bond

The Treble 16 Bond pays 3.00% on its maturity date of 23 August 2011. Savers can invest between £1,000 and £500,000. Early access and further additions are not allowed. The rate reverts to the Bond Maturity Account at the end of the one year fixed term. The account can be operated in branch and by post by savers of all ages.

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 Any products featured may be withdrawn by their provider or changed at any time.

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