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Bradford&Bingley launches fixed rate bonds

Bradford&Bingley has launched five fixed rate bonds, which will provide savers with the opportunity to take advantage of competitive fixed rates whilst offering them the flexibility of managing their savings online or through local branches, by telephone or by post.

The new range of products will include a six-month bond, which can offer a rate of 6.40% pa gross, 5.12% pa net. In addition, there is a one-year bond, which can offer a rate of 6.40% pa gross/AER, 5.12% pa net, and an attractive two-year bond, with a rate of 6.20% pa gross/AER, 4.96% pa net.

For customers who prefer to save online, there are also two internet-only eBonds available. The six-month eBond has a competitive rate of 6.40% pa gross/6.50% AER, 5.12% pa net. The one year eBond also has a rate of 6.40% pa gross/AER, 5.12% net. The eBonds are only available online at the company’s website.

All products are available with a monthly interest rate, for savers who prefer their interest to be credited on a more regular basis. All of the fixed rate bonds have a minimum deposit requirement of GBP1,000, with a maximum balance extending to GBP2 million. The new bonds will not allow withdrawals until maturity.

Paul Whitlock, head of savings at Bradford&Bingley, said: Our fixed rate bonds offer great value to those investors who want to take advantage of attractive savings rates with the added security of guaranteed returns.