Bradford & Bingley launches new longer-term fixed rate bonds

Bradford & Bingley has today launched a winning hat-trick of longer-term fixed rate bonds, all offering a highly competitive rate of 5.75% p.a. gross/AER to customers looking for a premium fixed return on their savings.

The limited edition range comprises a two-year fixed rate bond, which matures on 30 March 2010, a three-year fixed rate bond, which matures on 29 March 2011, and a four-year fixed rate bond, which matures on 27 March 2012.

Each of the bonds has a minimum deposit requirement of £1,000 and a maximum permitted balance of £2,000,000. No further deposits or withdrawals are permitted until maturity.

A monthly interest rate option is available to savers who would like their interest to be paid on a more regular basis.

Customers can open the bonds by calling into their local Bradford & Bingley branch or by telephoning 0845 600 8885.

Paul Whitlock, head of savings at Bradford & Bingley, said: “Our fixed rate bonds are designed to appeal to savers who are looking for a longer-term home for their money that offers them a highly competitive fixed return.

These limited edition bonds are ideal for customers who don't require instant access to their savings and can therefore take advantage of a great rate that will remain unchanged for the term of the bond, even if the Bank of England reduces the base rate."