A new one-year fixed-rate
savings bond is on offer from first direct, boasting an interest rate of 2.75% AER and maturing on 28 February 2011.
Matt Colebrook, chief executive at the
online banking provider, explains that the
savings bond is available to customers who wish to invest between £2,000 and £49,999.
"Although interest rates have remained unchanged for some time now, savers still want the certainty of earning a consistently good rate of interest on their money," he says of the product.
"This new fixed-rate
savings bond, together with our competitive fixed rate e-ISA products, mean first direct is offering some of the best savings rates on the market."
Extra payments cannot be made into the bond once it is opened, nor are withdrawals permitted during the term of the bond. Customers who wish to close their bond will receive any accrued interest and pay a £100 penalty.
Meanwhile, savers with NatWest and RBS still have the chance to earn a 0.5% gross bonus, fixed for 12 months, on their NatWest
Cash ISA or RBS Instant Access
ISA account if they save their full 2010/11
cash ISA allowance of £5,100 before 30 April this year.
Financial News
