BM launches market leading fixed rate bond

Birmingham Midshires, one of the UK’s top fixed rate bond providers, has announced the launch of a market leading One Year Fixed Rate Bond, available from Saturday 27 October.

The new One Year Fixed Rate Bond will pay a guaranteed rate of 6.86% Gross/AER and, at the time of writing, is top of the Best Buy tables. The rate is 1.11% higher than the current Base Rate.

The One Year Fixed Rate Bond is operated via the internet and is accessible to all types of saver, with a minimum investment of just £1. The Bond also offers a flexible payment scheme - savers can choose to have the interest paid upon maturity or as a regularly monthly payment (6.65%Gross/AER).

Richard Brown, head of savings products at Birmingham Midshires, commented: “So far, 2007 has proved to be the year of the saver - three base rate increases to date this year have resulted in a competitive savings market, with some fantastic rates available to savvy savers.”

Summary of key product details:

Operated via the internet
Minimum investment of £1
Maximum investment of £1m
Interest calculated daily and paid either on maturity or in monthly instalments
Mini and full statements viewable online

To open an account, visit askbm.co.uk.