Bradford & Bingley offers incentives to savers

Bradford & Bingley has launched a market-leading one-year fixed rate bond, with a staggering rate of 6.80% p.a. gross/AER (5.44% p.a.net), maturing on 11 February 2009 and a one-year e-bond, again with a best buy rate of 6.80% p.a. gross/AER (5.44% p.a. net) to reward the large majority of savers who are committed to putting their money away.

Research by the High Street bank which looks at the savings habits of the UK consumer has revealed that 65% of people consider themselves savers.

Of this number, a half class themselves as committed savers and always like to make sure they have money when they need it, with the other half saying that they save but would like to save more.

Therefore, to reward everyone who is putting money aside, Bradford & Bingley has launched a one-year branch/postal fixed term bond and a one-year e-bond, both with a not-to-be-missed rate of 6.8%. These bonds give savers not only a superb rate of interest but also the choice of managing their savings online or via a more traditional method, through local branches, by telephone or by post.

The bonds are available with a monthly interest rate option, for savers who prefer their interest to be credited on a more regular basis, and both bonds have a minimum deposit requirement of £1,000, with a maximum balance extending to £2,000,000.

Paul Whitlock, head of savings at Bradford & Bingley, commented: “Our fixed rate bonds offer headline rates that shrewd savers will find hard to resist. They provide great value to canny investors who want to take advantage of attractive savings rates with the added security of guaranteed returns."