Skipton FS offers fixed rate bond paying up to 3.95%

At a time when UK savers are being forced to sacrifice either access to their cash or a competitive rate of interest, Skipton Financial Services has come to the rescue.

The financial advisory arm of Skipton Building Society is offering a 2½ year fixed rate bond through the building society which pays 3.55% and allows immediate access to 50% of their initial investment. Alternatively, savers can opt for 3.75% in exchange for access to only 25% of their investment, or receive 3.95% by locking their money away until November 2011.

Key Features - 2½ Fixed Rate Bond

Savers have the choice of three fixed interest rates:

3.55% gross pa until 30 November 2011 - unlimited instant access to 50% of initial investment without penalty

3.75% gross pa until 30 November 2011 - unlimited instant access to 25% of initial investment without penalty

3.95% gross pa until 30 November 2011 - no withdrawals allowed until maturity

Minimum investment £500, maximum £1,000,000 (£2 million if joint account) - by cheque or transfer

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 - by cheque or transfer

Available for new money to Skipton Building Society only, no internal transfers

Interested customers should call 0800 731 5345 for more information.

Mark Fleet, managing director of Skipton Financial Services, commented, "We have listened to what customers have been asking for and are delighted to be able to offer this highly competitive and innovative product, combining the advantages of an instant access account, with the best features of a fixed rate bond, so Skipton investors really can have their cake and eat it! Unlike other similar offerings out there which only offer one opportunity to take money out, savers choosing either of the access options (3.55% or 3.75%) will have unlimited access to make immediate penalty-free withdrawals up to 50% or 25% of their initial investment."

For more information, visit skiptonfs.co.uk