Bank of Cyprus UK expands fixed term bond range

Bank of Cyprus UK has announced the launch of two new fixed term bond products. A three year bond paying 4.35% AER/gross p.a. is now available along with a shorter term nine month bond paying 4.12% AER / 4.10% gross p.a.

Both bonds are available with a minimum deposit of just £1. These products are strictly limited offers and customers can apply over the phone or download an application form from bankofcyprus.co.uk

Tony Leahy, Head of Communications at Bank of Cyprus UK, commented: "As rates on savings products have fallen, so we are seeing demand for a broader and more flexible range of savings options. In terms of bonds, our customers appreciate the transparency of a guaranteed return as well as a range of term options to suit their needs. Therefore, we now offer six different term products from six months to three years.”

Commenting, Andrew Hagger of comparison site Moneynet.co.uk said: “In what has almost become a savings graveyard, consumers are increasingly looking to lock into a fixed rate to maintain a decent level of return. The combination of a wide choice of fixed terms and attractive rates will undoubtedly prove popular as variable rates continue to wane.”