Saga has launched a new long term fixed rate bond that will appeal to investors aged 50 or over.
The 5 Year Fixed Rate Internet Savings is an account with a minimum investment of £1 paying 4.50% yearly (4.41% monthly).
Earlier access is permitted subject to a 365 day loss of interest in year one, 320 day loss in year two, 270 day loss in year three, 180 day loss in year four, and 90 day loss in year five. Additions are permitted whilst the issue remains open.
At, 4.50%, it is amongst the market leaders and should appeal to silver surfers although higher returns are available in the open market.
Four out of five Moneyfacts stars have been awarded.
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