Progressive BS has increased the rate offered on its one year fixed rate bond.
The Limited Issue 1 Year Fixed Term bond Issue 2 pays a rate of 3.05% yearly (2.90% monthly) on a minimum investment of £500 (£5K for the monthly option).
As with many bonds there is no flexibility for withdrawals, so investors will need to be sure they can commit funds for the full term.
The ability to make additional investments of £500 or more whilst the issue remains open will be seen as a plus, as will the monthly option paying a slightly reduced rate from £5K.
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