Despite bank base rate being kept on hold for the last eight months, more than ten per cent of variable rate savings accounts have seen rates fall.
It therefore comes as no surprise that increasing numbers of savers are looking to fix the rate they receive on their money.
While the highest fixed rate bond rates require a five year commitment, there are a number of accounts requiring savers to commit funds for just a few months.
Bath Building Society – Fixed Rate Bond Issue 8
The Bath Building Society is offering a rate of 3.15 per cent on its Fixed Rate Bond, which matures on 31st July 2010. Savers can invest up to £100,000 into the bond, which has a monthly interest option available for savers looking for a regular income. The bond can be operated in branch or by post, with further additions permitted whilst the bond remains open. Access is available during the term, but savers will lose 180 days' interest if a withdrawal is made.
Kent Reliance Building Society – Direct Nine Month Fixed Rate Bond Issue 1
Kent Reliance Building Society is offering savers committing funds for nine months a rate of 3.00 per cent on its Direct Nine Month Fixed Rate Bond. Between £100 and £100,000 can be invested in the postal operated bond, which has a monthly interest option available. Once opened, further additions are not permitted and access is available in exceptional circumstances only, subject to a loss of 100 days' interest.
Nottingham Building Society – Fixed Rate Savings Issue 73
Savers looking to invest between £1,000 and £250,000 are being offered a rate of 2.75 per cent from the Nottingham Building Society on its Fixed Rate Savings, which matures on 15th March 2010. Further additions are permitted into the bond whilst the issue remains open, but access is not available during the term of the deal.
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