West Brom Building Society has increased its five-year bond rate by 0.25%, achieving a top ten rate for its term.
5 Year Fixed Rate Bond now pays 3.00% yearly to 30.9.19 on a minimum investment of £1,000. A monthly option paying a slightly reduced rate of 2.96% is also available for those who wish to supplement their monthly income.
This account can be opened in branch, by post, by phone or online, and can then be operated through the first three channels. Like most fixed rate bonds there's no flexibility for further additions or withdrawals, so savers must be comfortable with their initial investment and the term from the outset.
Thanks to the rate increase, West Brom BS's fixed rate account now offers an even more competitive choice for savers willing to lock their money away for the full five years.
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.