Principality introduces 2 Year Variable Rate Bond
The new Principality 2 Year Variable Rate Bond paying 3.30% Gross p.a/AER offers savers a rate that will not drop below 3.30% Gross p.a/AER during the 2 year term.
As with all of Principality's fixed term bonds, savers have the option to have interest paid monthly, keeping their capital safe while boosting their regular income.
The Bond can be opened with a minimum deposit of £500 and a maximum of £2,000,000. Additional deposits can be made while the bond remains on sale.
Principality's Savings Manager Kate Murray, said: "The new 2 Year Variable Rate Bond offers a minimum return ensuring savers do not need to monitor the account for any drop in rate. The variable aspect also means the rate has the flexibility to move upwards should interest rates rise within the next 24 months. Speculation around this continues with forecasts varying between mid 2014 and mid 2015, with some analysts even predicting a rise before the end of 2013."
Principality's 2 Year Variable Rate Bond can be opened in any of the Society's 52 branches across Wales and the Borders, or online at principality.co.uk.