New 5 and 7-yr bonds enter the charts | Product News - Moneyfacts

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New 5 and 7-yr bonds enter the charts

New 5 and 7-yr bonds enter the charts

Category: Savings
Date: 28/05/2015

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 It is now over 6 months old so the content may be out of date.

Secure Trust Bank has unleashed two competitive fixed bonds onto the market, both of which have stormed straight into the Moneyfacts charts.

The basics…

Fixed Rate Bond 5 Year Term (Series 19) pays 3.01% yearly until 31.5.20, earning it a well-deserved place in the Moneyfacts charts. Meanwhile, its seven-year counterpart (Series 18) pays 3.11% yearly until 31.5.22, a market-leading rate for its term.

The finer details…

Both of these accounts must be opened online and then managed by post and phone. A minimum investment of £1,000 is required.

Further additions are permitted while the issues remain open, but early access to funds is not permitted. For this reason, savers must be completely comfortable locking their money away for the full length of their chosen term.

Business versions of these accounts paying the same rates are also available.

Why we like them…

Both of these accounts offer savers enticing rates, which is sure to generate interest. The option to deposit extra funds adds an extra element of flexibility that is often lacking in the fixed arena, but the lack of early access does mean that savers must be prepared to lock their money away until their chosen bond matures.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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