Cheshire raises rates on three Fixed Rate Savings Bonds

Cheshire Building Society has increased rates on three of its Fixed Rate Bonds, offering savers even better competitive rates for their money.

Customers can secure a guaranteed return of 6.80% Gross/AER over one, two or three years on deposits of £1,000 up to £2,000,000.

For those looking for a good short term investment, the 12 month bond offers a fixed rate of 6.80% Gross/AER on minimum balances of £1,000 and over (monthly 6.60% Gross, 6.80% AER).

Investors who are able to leave their money for longer can take advantage of the two year and three year s which also offer 6.80% Gross/AER (monthly 6.60% Gross, 6.80% AER).

Savers can open more than one fixed rate bond at a time, although no additions or withdrawals can be made to the original investment.

David Gibson, Senior Marketing Manager for Cheshire Building Society, said: "Given the current economic climate, many people are cautious about investing in stocks and shares so want a viable alternative. By locking into a fixed term bond, savers are able to benefit from a high rate of interest with a guaranteed return on their investment."

Rates are correct as at 4th September 2008, are subject to availability and may be withdrawn, or subject to change without notice.

The ‘AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if it was paid and compounded once each year.

The ‘Gross' rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

For further information visit thecheshire.co.uk