Scottish Widows new 5 Year Fixed Rate Deposit Account

Scottish Widows Bank has launched a new 5 Year Fixed Rate Deposit Account for personal funds, available from Friday 7 August 2009.

This new account has a competitive fixed interest rate of 5.25% gross/AER for customers, giving them a good return on their investment over the longer 5 year term. The start date is 23 September 2009 and the final maturity date is 22 September 2014. Customers can invest a minimum of £10,000 and a maximum of £5 million. Interest can be paid away to customers on a monthly, quarterly or annual basis.

Mandy Webster, Marketing Manager, Scottish Widows Bank comments: "We are delighted to be bringing a strong 5 year fixed rate savings account to the consumer market. This complements our already successful 1 Year Fixed Rate Accounts launched earlier this year. The longer term nature of the 5 Year Fixed Rate Deposit Account ensures customers benefit from security and a good return on their investment. Scottish Widows Bank offers savers the choice and combination of no notice accounts, 1 year fixed accounts and now a longer term 5 year fixed account."

For further information on Scottish Widows Bank's 5 Year Fixed Rate Deposit Account, visit scottishwidowsbank.co.uk