1-yr bond gets a rate boost | Product News - Moneyfacts

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1-yr bond gets a rate boost

1-yr bond gets a rate boost

Category: Savings
Date: 02/01/2015

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 It is now over 6 months old so the content may be out of date.

National Counties Building Society has increased the rate of its one-year bond by 0.25%, allowing it to enter the top 10 of the Moneyfacts charts.

The basics…

57th Issue Savings Bond now has a competitive yearly rate of 1.76% for investments of £10,000 or more. Deposits of less than this amount merit a slightly lower rate of 1.56%. Monthly options are also available paying 1.75% and 1.55% respectively.

The finer details…

This account requires a minimum deposit of £1,000, although a deposit of £10,000 or more is needed to achieve the higher rate. The account can be opened and operated in branch, online and by post.

Like many fixed rate accounts, this deal does not allow further additions or early access to funds. Savers must therefore be happy with the amount they invest from the beginning.

Why we like it…

Thanks to the welcome rate increase, this bond now boasts a competitive top 10 rate for its sector. However, an investment of at least £10,000 is required to get the best rate, so if savers want to make their money work harder, they need to ensure that they are comfortable locking this sum away for the full term.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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