Post Office launches new rates for Growth Bond and Fixed Rate Cash ISA
The Post Office has launched new rates for its Growth Bond and new Fixed Rate Cash ISA - two of its most popular savings vehicles. Both products are available immediately.
The Growth Bond and Fixed Rate Cash ISA offer rates for one, two and three year terms, with rates up to 3.25% gross/AER for the three year Growth Bond and up to 3.25% gross/AER for the three year Fixed Rate Cash ISA.
The new rates and terms are:
Growth Bond issue 19:
One year - 2.95% gross/AER
Two year - 3.05% gross/AER
Three year - 3.25% gross/AER
Fixed Rate Cash ISA issue 9
One year - 2.85% gross/AER
Two year - 3.00% gross/AER
Three year 3.25% gross/AER
Henk Van Hulle, Head of Savings at Post Office, said: "We know that many savers are feeling the pinch as the low base rate continues to affect returns on savings. The launch of new rates on two popular savings products demonstrates our commitment to offering savers a range of products with the best returns possible. The Growth Bond and the Fixed Rate Cash ISA offer a guaranteed fixed return for savers, and are ideal for those who want to put money aside knowing they will receive an attractive return at the end of the term."
Both products can be opened with a minimum deposit of £500. Growth Bonds can be opened via telephone or in Post Office branches. The Fixed Rate Cash ISA can be opened in branch, by phone or by returning the application form which can be found online at postoffice.co.uk/savings.