State Bank of India’s magnificent five (year bond) - Savings - News - Moneyfacts


State Bank of India’s magnificent five (year bond)

State Bank of India’s magnificent five (year bond)

Category: Savings

Updated: 28/09/2009
First Published: 28/09/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The State bank of India has extended its fixed rate portfolio with the addition of a competitive five year bond.

The New High Return Fixed Deposit is a five yearly fixed term account which pays a yearly rate of 5.25% (5.128% monthly) on a minimum investment of £10K.

No early access or additions are permitted and investors must have or open a State Bank of India savings or current account.

This product is one of the top five year fixed options currently available and should prove popular with those with £10K or more to invest. A monthly option will also heighten its appeal.

An additional account with the bank is needed, but it does not have to be funded. Thus, so investors should not be unduly put off, although they should be certain they can afford the investment as early access is prohibited.

This five year bond is well worthy of four out of five Moneyfacts stars.

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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.

Start saving for Christmas… 2017!

Christmas is just around the corner and our annual festive splurging is starting to step up, but are you prepared? It may be too late to start saving for this year’s festive spend, but it’s never too early to start for next year’s!