Savers who wish to lock funds away for a short period may be suited to a six month bond.
With interest rates predicted to increase around the beginning of next year, savers can lock their money away for the remainder of 2010 with the knowledge of receiving a guaranteed rate of return at the end of the term.
Here is a selection of the current best six month fixed rate bonds.
Principality Building Society – 6 Month Fixed Rate Bond 170
This account from Principality Building Society pays 2.00% on maturity. There is also a monthly interest option which pays 1.99%. Investments range between £500 and £1 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 in branch or by post.
Norwich & Peterborough Building Society – Fixed Rate Bond
This account pays a rate of 1.94% on maturity. A monthly interest option is also available at 1.93%. Savers can invest between £1,000 and £1 million. Further additions and early access are not allowed. The account is available to savers of all ages and can be operated in branch, by post or online.
Halifax - Guaranteed Reserve
The Guaranteed Reserve account, fixed for six months, pays 1.00% on maturity. Savers can invest between £500 and £9 million. Interest is paid in gross on deposits of £50,000 and over. Early access is allowed on closure after six months, subject to penalty. The account is available to savers of all ages and can be operated in branch, by telephone or online.
Find the best savings accounts for you - 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 Any products featured may be withdrawn by their provider or changed at any time.
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