Skipton Building Society has become the first savings provider to launch a seven-year bond in as many years.
The new Limited Edition 7 Year Fixed Rate Branch Bond pays 3.50% yearly or 3.45% monthly on a minimum investment of £500.
As its name suggests, this bond can only be opened and operated in branch.
The finer details….
The maximum investment limit is £10,000.
Savers must be able to invest all funds from the outset as further additions are only permitted whilst the issue remains open.
As is usual with fixed rate bonds, early access is not permitted.
Why we like it….
This seven-year fixed rate bond from Skipton BS enters the top of the long-term fixed market.
As the maximum investment is only £10,000, returns will be limited, but savers wishing to supplement their income will benefit from the monthly interest option.
Four out of five Moneyfacts Stars have been awarded.
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4yrs and over fixed rate bonds
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