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Saga impresses with long term fixed rate

Saga impresses with long term fixed rate

Category: Savings

Updated: 13/09/2010
First Published: 10/09/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Saga has launched a new long term fixed rate bond that will appeal to investors aged 50 or over.

The 5 Year Fixed Rate Internet Savings is an account with a minimum investment of £1 paying 4.50% yearly (4.41% monthly).

Earlier access is permitted subject to a 365 day loss of interest in year one, 320 day loss in year two, 270 day loss in year three, 180 day loss in year four, and 90 day loss in year five. Additions are permitted whilst the issue remains open.

At, 4.50%, it is amongst the market leaders and should appeal to silver surfers although higher returns are available in the open market.

Four out of five Moneyfacts stars have been awarded.

Find the best savings rates for you - Compare savings accounts

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 Any products featured may be withdrawn by their provider or changed at any time.