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Unique new Skipton bond offers outstanding rate over 7 years

15th July 2013 Print

Skipton Building Society is launching a pioneering new long term bond offering customers the certainty of an excellent return for seven years.
The Limited Edition 7 Year Fixed Rate Bond is available via the Society's national network of branches, and offers interest rates of up to seven times Bank of England Base Rate, and ahead of inflation. 

Key product features

Annual Interest 3.50% Gross pa/AER
Monthly Interest 3.45% Gross pa/AER

Other product features

Customers can invest between £500 and £10,000 (£20,000 for joint applications);

Interest is calculated daily and paid annually or monthly;

Additional investments can be made into the bond until it becomes a closed issue (which can happen at any time and without notice) ;

No withdrawals are allowed until maturity;

The bonds will mature into a competitive easy access account available at the time.
This latest offering complements the wide variety of other good value savings accounts Skipton has available, including our innovative goal-based My Savings range, which encourages people to save up for everything from holidays to a rainy day, through badged accounts helping them to keep their objective very much in mind. Skipton also offers competitive ISAs and was among the first providers to offer the Government-backed Junior ISA.
It further reinforces Skipton's commitment to offering consistent, long term good value products which are transparent, with no catches. And the combination of simplicity, rate certainty and an attractive return means that customers can invest their money with confidence.
Kris Brewster, Head of Products at Skipton, said: "We know that our customers are looking for the best value they can get in a historically low interest rate environment, which is why we've created this product to enable us to offer the best rate we possibly can, over the longer term.
"Not only is the interest rate on this new account several times higher than Bank Base Rate, it's also inflation-beating, making it a serious option for people who are looking to lock away their savings for a little bit longer to ensure they work harder for them"
"In fact, given that the rate is higher than many mortgages currently available, it is potentially cost effective for anyone who has a lump sum and isn't quite sure what to use it for, to consider investing it in the bond with a view to paying down their lower rate mortgage at a later date, when their bond matures.
"We think this product could also be ideal for customers who are looking to maximise their return and are happy to lock their money away but don't want the risk associated with longer term investments, such as those approaching retirement."
Anyone wishing to find out more about Skipton's new E-Bonds can visit the Society's savings pages on