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West Bromwich launches new bonds

West Bromwich launches new bonds

Category: Savings

Updated: 18/03/2010
First Published: 18/03/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
West Bromwich BS has launched two new fixed rate bonds that are likely to prove very popular with savers.

The E Bond 38 is an internet operated fixed term account maturing on 30.6.11, with a minimum investment of £5K paying a rate of 3.31% on maturity (3.26% monthly).

The Easter Bond is a branch operated fixed term account maturing 30.6.11 with a minimum investment of £5K paying a rate 3.31% on maturity (3.26% monthly).

On both accounts no earlier access or additions are permitted and money must be new to the institution.

Mark Lowndes, head of products at West Bromwich said: "Our new fixed-rate bond gives savers a guaranteed high return, whether they want to open an account in their branch or online."

The launch of these two new accounts is great news for investors who can commit funds for slightly more than a year but do not want to extend to a full two year term.

As with most short term products, there is no flexibility for withdrawals or additions so investors need to be sure they can afford to commit for the term.

Four out of five Moneyfacts stars have been awarded.

Find the best savings accounts for you - compare medium term fixed rate bonds

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