Skipton’s bond rates rise ahead of speculated MPC decision

With strong speculation of an increase in the Bank of England’s base rate, savers looking for increased returns can find them with Skipton Building Society’s new range of Pick ‘N’ Fix bonds.

Launched today, the range includes a 1 year bond – with a rate of 6.01% gross pa, plus a 2 year and 3 year bond, each with a rate of 6.06% gross pa. All of the bonds also offer a monthly income option.

John Goodfellow, chief executive of Skipton Building Society, commented, “So far, 2007 is shaping up as a year for savers, as rising rates on the money markets are translating into rising rates on accounts. This latest increase to our Pick 'N' Fix bonds - the highest these rates have been for over two years - has led them to be some of the most competitive around and I’m sure savers will be taking the opportunity to gain a generous return on their investments.”

Pick ‘N’ Fix range of fixed rate bonds

Three bonds to choose from:

1 Year Fixed Rate Bond – fixed interest rate of 6.01% gross pa until 31 May 2008

2 Year Fixed Rate Bond – fixed interest rate of 6.06% gross pa until 31 May 2009

3 Year Fixed Rate Bond – fixed interest rate of 6.06% gross pa until 31 May 2010

Monthly income option:

1 Year Fixed Rate Bond – fixed interest rate of 5.81% until 31 May 2008

2 Year Fixed Rate Bond – fixed interest rate of 5.86% until 31 May 2009

3 Year Fixed Rate Bond – fixed interest rate of 5.86% until 31 May 2010

Minimum investment £500, maximum £50,000 – cheque or transfer only

Maximum one of each bond per customer

Additional investments allowed for a limited period – cheque or transfer only