first direct launches fixed rate savings bond at 2.75%

first direct has launched a new one year Fixed Rate Savings bond at a very competitive rate of 2.75% AER which will mature on 28 February 2011.

The new savings bond is available to first direct customers who wish to invest between £2000 and £49,999.

Matt Colebrook, chief executive at first direct commented, ‘Although interest rates have remained unchanged for some time now, savers still want the certainty of earning a consistently good rate of interest on their money. This new Fixed Rate Savings bond, together with our competitive fixed rate e-ISA products mean first direct is offering some of the best savings rates on the market.'

Features of the Fixed Rate Savings bond are:

competitive rate of 2.75% AER, fixed until 28 February 2011 when the product will mature
customers can deposit between £2000 and £49,999
for customers wishing to deposit more than £49,999 can open extra bonds
extra payments cannot be made into the bond once opened.
there are no withdrawals during the term of the bond. Should customers wish to close their bond they will receive any accrued interest and a £100 penalty will be payable
the bond is only available to first direct customers