N&P Building Society has launched a new six-month
savings bond and is also increasing interest paid on its one-year
savings bond.
The bonds are opened online and the initial balance can be paid into the account electronically. The Six Month E-Bond pays a fixed rate of 3.05 per cent gross AER and can also be opened via a postal application. Applicants need to print the application form from the Norwich and Peterborough Building Society website and send it in the post along with a cheque for their initial
investment.
Both
savings bonds require a minimum deposit of £1,000 and savers are not able to make further deposits. N&P’s product manager for the E-Bond accounts says that the fixed rate bonds have been very popular in the past and that the new six-month account is also expected to prove a hit with savers. He explained, "The introduction of a six-month term complements our existing range of E-Bonds, providing a real choice for customers who prefer to save online and want certainty in the current climate but also don't want to tie their money up for a long period of time."
