New fixed rate Online Bond from Barnsley Building Society

Barnsley Building Society has increased the rate on its 3 year fixed rate Online Bond which is now paying a market-leading 4.70%.

The bond is available to new and existing customers and offers a monthly interest option for those who rely on their savings for income.

Sarah Lawrence, Senior Savings Product Manager at Barnsley Building Society, says: "It's great news for savers that we've increased the interest rate on our 3 year Online Bond which now has a market leading rate. We think this product will be very popular with savers looking for a great return on their investment but will only be available for a limited period and I would therefore urge savers to act quickly as we expect great demand for this product."

The new accounts are only available online, and have a completely paperless application process, where actual signatures and identification documents are not required in most cases. Savers are also able to deposit funds electronically using their debit card, which will earn interest days quicker than they would with a traditional cheque deposited by post.

For more details about the account visit the Barnsley Building Society website at barnsley-bs.co.uk