Cheshire Building Society to launch two year fixed rate bond

Cheshire Building Society is launching a new two year Fixed Rate Bond on Friday 13th June offering a market-leading rate up to 6.75% Gross/AER for savers looking to secure a guaranteed return over two years.

The Society is also offering a competitively priced 12 month Fixed Rate Bond offering a rate of up to 6.30% Gross/AER.

The two year Fixed Rate Bond is a tiered product offering a higher rate of interest for investments over £5,000 as well as a competitive rate for smaller amounts. A minimum investment of £5,000 offers 6.75% Gross/AER (monthly 6.55% Gross, 6.75%AER) and a minimum investment of £1,000 offers 6.70% Gross/AER (monthly 6.50% Gross, 6.70% AER). The maximum investment is £2,000,000.

The 12 month Fixed Rate Bond offers a guaranteed rate of up to 6.30% Gross/AER, with a minimum investment of £1,000 and a maximum of £2,000,000. It is ideal for investors who are able to tie up their money for 12 months and benefit from a great return. Interest can be paid either on maturity (6.30% Gross/AER) or on a monthly basis (6.13% Gross, 6.30% AER).

Customers can open one or more Fixed Rate Bonds at a time, although no additions or withdrawals can be made to the original investment.

David Gibson, Senior Marketing Manager for Cheshire Building Society, comments: "Economic uncertainty is encouraging people to be more careful with their money and has sparked a renewed interest in savings.

"Both the 12 month and 2 year Fixed Rate Bonds are perfect for savers who want the guarantee of a great rate and don't need access to their funds for a fixed period, without the risk of investing in the stock market."

Rates are correct as at 6th June 2008, are subject to availability and may be withdrawn, or subject to change without notice.

For further information, visit thecheshire.co.uk.