Principality launches new fixed rate savings bonds

Principality Building Society will launch (Friday 10 July) a range of fixed rate bonds designed to give savers the confidence of a guaranteed return matched with a choice of savings terms to suit their needs.

The range includes a 6 month fixed rate bond paying up to 2.52% AER, a one year fix offering rates up to 3.50% AER, a two year fixed rate bond paying up to 4.00% AER, and a five year fix paying a market-leading interest rate of 5.10% AER.

Principality says its new fixed rate bonds are ideal for savers looking for a guaranteed return on their cash during the current low-interest rate environment. By offering a wide selection of rates and savings terms, the society is also giving consumers complete control over their investments, whether they want the short term security of a competitive rate offered by the six month fix, the certainty of the one or two year bonds, or the confidence of a market leading 5.10% AER with its five year fixed rate bond.

More savers are turning to fixed rate products during the economic downturn as they seek certainty and guaranteed returns. James Wright, Marketing Director of Principality Building Society, explains: "Last year we saw a 150% increase in the number of savers taking out fixed rate accounts with Principality. This is because we offer consistently good rates and products that are straightforward to understand, reaffirming our commitment to savers.

"With our latest fixed rate bonds we have developed a series of products that will suit every saver's needs, whatever their circumstances and no matter how much they have to save, from great short-term returns through to long-term security."

For more information, visit principality.co.uk/savings