BM Savings ups the ante with new fixed rate savings bond

Hot on the heels of the launch of its two year bond paying 3.90%, BM Savings has announced a one year fixed rate bond at 3.50%.

Unlike many bonds which providers only make accessible with minimum deposits as high as £25,000, the new BM Savings one year fixed rate is available with just a £1 deposit. 

John Bianco, Head of Savings at BM Savings, explains: "It is important that we not only offer great rates, but make those rates as accessible as possible to customers.  Both the BM Savings one year fixed rate at 3.50% and the two year fixed rate at 3.90% are extremely competitive rates, but we also ensure that - with a minimum deposit of £1 and a maximum deposit of £10 million - these great deals are available to a greater number of potential customers."

Key features of the new BM Savings Fixed Rate Bonds

Interest is either paid yearly on the anniversary of the first deposit or on the first day of the month for monthly Bonds.

1 Year Fixed Rate 3.50% Yearly Interest Bond

1 Year Fixed Rate 3.45% Monthly Interest Bond

Interest paid on an annual basis will be paid back into the bond; monthly interest can be paid into a nominated account

Minimum balance of £1

The maximum balance is £10 million for sole accounts, £20 million for joint accounts

No access permitted during the term of the bond