Norwich and Peterborough launches 2 year E-Bond

Norwich and Peterborough Building Society (N&P) has launched a new two year E-Bond. The main features:

The 2 Year E-Bond is open to everyone aged over 16 with a minimum £1,000 to invest (maximum £1,000,000)

2 Year E-Bond is only available for money that is not currently held in an existing N&P account

Interest rate: 3.65% fixed for 2 years

Interest paid annually on 1st January and paid back to the account. Monthly interest is not available.

Accounts can only be opened online or by downloading an application form at npbs.co.uk and posting it to N&P with a cheque.

No additional deposits can be made into a 2 Year E-Bond once opened, although additional 2 Year E-Bonds can be opened.

No withdrawals allowed. Closure on 120 days' loss of interest.

Gary Lacey, Group Product Manager at N&P, said: "This is a very attractive rate and we don't expect our 2 Year E-Bond to be available for very long, so act fast."