The festive season can have a massive impact on our finances, with the average person expected to spend around £500 on presents and entertainment this December.
With so much money going towards gifts and entertainment, this time of year can be a difficult time to save.
To help plan ahead for 2011, it may be worth locking some money into a short term bond.
Here is a selection of the current best six month bonds.
Skipton Building Society – Fixed Rate E-Bond
This account from Skipton Building Society pays 2.50% on maturity. A monthly interest option is also available at 2.47%. Savers can invest between £500 and £1m and further additions can be made whilst the issue remains open. Early access is not allowed. Upon maturity the rate will automatically revert to the My Loyalty Saver. The account is available to savers aged 16 and over and can be operated online only.
Norwich & Peterborough Building Society – Fixed Rate Bond
The Fixed Rate Bond pays 2.24% on maturity. A monthly interest option is also available at 2.23%. Savers can invest between £1,000 and £1m. Further additions and early access is not allowed. The account is available to savers of all ages and can be operated in branch, by post or online.
Bank of Cyprus UK – Bank of Cyprus UK Bond 115
This account pays 2.00% on maturity. Savers can invest between £1 and £1m and interest will be paid in gross for balances over £50,000. Further additions and early access are not permitted. The account can be operated in branch, by post, telephone or online by savers of all ages.
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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 Any products featured may be withdrawn by their provider or changed at any time.
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