West Bromwich cleans up with new E Bond - Savings - News - Moneyfacts


West Bromwich cleans up with new E Bond

West Bromwich cleans up with new E Bond

Category: Savings

Updated: 13/05/2009
First Published: 13/05/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
West Bromwich BS has announced the launch of a new fixed term internet operated savings account that wipes the floor with the competition.

The E Bond 23 will enter the short term fixed rate bond market at the top, paying 4.30% on maturity at 30.9.2010 (4.22% monthly).

A rather steep minimum investment of £50K is needed to utilise the monthly option, although it's £5K otherwise.

As with most fixed rates, earlier access and further additions are not permitted.

However, the extended term of this new issue (16 months rather than 12) may add to its appeal.

Four out five Moneyfacts stars is this products well deserved reward.

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 Any products featured may be withdrawn by their provider or changed at any time.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

Average five-year fixed bond rate falls below 2%

Long-term fixed rate bonds used to be the top solution for savers looking to get a decent return on their savings, but unfortunately, times have changed, with our latest data revealing that the average five-year rate has fallen to a new record low.

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.

Less than half of savings accounts beat inflation

Official figures show that inflation jumped up during September, with CPI rising to 1%. Not only does this mean that consumers may begin to feel the impact on their wallets, but there are now far fewer savings accounts that will beat inflation.