New bonds from Bradford & Bingley

Bradford & Bingley is to offering savers the chance to put money in a guaranteed return scheme with the introduction of two fixed rate bonds.

14:24 03 June 2004

Bradford & Bingley is to offering savers the chance to get money stored away in a guaranteed return scheme with the introduction of two fixed rate bonds.

It has launched a two-year bond, paying 5.55 per cent gross AER, and a three-year bond with a rate of 5.75 per cent gross AER.

As it stands both bonds lead their respective markets. The minimum investment on each is 1,000, and there is a maximum limit of 100,000.

The head of savings product development for Bradford & Bingley, Antony Lupton, said: "With rates on savings products beginning to look much more attractive for investors, people need to make sure that their money is working as hard as possible for them."

He praised the new bonds, saying: "For those who like to know exactly what the return will be on their investment we have launched these market-leading fixed rate bonds."

Bradford & Bingley are, however, urging consumers to act now as the bonds are offered on a first-come, first-served basis.

It will also be possible to receive the interest from the bonds on a monthly basis should an investor be looking for a supplementary income from the scheme.

But the building society makes clear that no additions or withdrawals are permitted until the maturity date.