Barclays launches three year fixed rate savings bond

Barclays is launching a market leading three year fixed rate savings bond paying 4.25 per cent gross p.a./AER.

Andy Gray, Barclays Head of Mortgages and Savings said: "From a rate perspective, this new three year bond is comparable with many five year bonds. It's great for savers who want to get the best rate without tying up their money for 5 years. The monthly option of the bond will particularly appeal to savers who rely on their savings for a regular income, while the end of term option offers guaranteed growth in three years time. At the end of the term they can simply switch to another bond and take advantage of what rates are available at that point."

The fixed rate bond is available to new and existing customers and can be opened with a minimum £25,000 and a maximum of £500,000.

New and existing customers can open their fixed rate bond instantly through a branch. In addition Barclays current account customers using online banking can apply online at barclays.co.uk/savings