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Saffron BS provides missing link

Saffron BS provides missing link

Category: Savings

Updated: 09/04/2010
First Published: 09/04/2010

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 It is now over 6 months old so the content may be out of date.
Saffron BS has launched a new one year fixed rate bond which could appeal to those with a fair chunk of change to invest.

The 1 Year Fixed Rate Linked Bond pays a rate of 4.80% on maturity on a minimum investment of £500 (£20K- 5.00%).

No further additions are permitted and early access is subject to closure of the account and a loss of 180 days' interest. There is a maximum investment cap of £45K.

Investors must also put the same amount or greater (minimum £3K) in a six year Credit Suisse Protected Capital Plus Account (PCPA), which must be maintained for the term of the bond.

The product offers a highly attractive rate, although clients must be prepared to invest an equal amount in another account to obtain the rate.

Four out of five Moneyfacts stars have been awarded.

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