Skipton launches 4 Year Fixed Rate Bond

Skipton Building Society has launched a 4 Year Fixed Rate Bond. Aimed at savers looking for a medium-term home for their money, it offers 4.0% gross pa and a monthly income option of 3.90% gross pa. It is also available online.

4 Year Fixed Rate Bond

Fixed interest rate of 4.0% gross pa until 30 April 2013

Monthly income option with fixed interest rate of 3.90% gross pa until 30 April 2013

Minimum investment £250, maximum £500,000 (£1 million if joint account) - cheque or transfer only

Customers can open more than one bond, however, the total investment cannot exceed the maximum limit

Additional investments allowed until bond becomes a closed issue - cheque or transfer only

Tim Fletcher, general manager at Skipton, said, "The order of the day with regard to forecasting rates is confusion; some think we're at the bottom of the trough and will soon be going upwards, some think there's further to drop and it won't get any better for some time. To make sure we're catering for every option, we've added a 4 Year Fixed Rate Bond to our portfolio, for savers who want to know exactly what their money will earn in the medium-term."