Norwich & Peterborough E-Bond pays 3.05 per cent

N&P (Norwich & Peterborough Building Society) has announced the launch of its new 6 Month E-Bond, and an increase in the rate on its 1 Year E-Bond.

The 6 Month E-Bond offers a fixed rate of 3.05% gross AER (3.03% gross pa, 2.42% net) and the 1 Year E-Bond offer a fixed rate of 3.05% gross AER (3.05% gross pa, 2.44% net).  The accounts can be opened online and the opening balance paid in electronically, or by post by printing an application form from N&P's website and sending it with a cheque for the opening balance.  The minimum investment for both fixed rate savings accounts is £1,000 and no further deposits are allowed after the opening balance.  The accounts may be opened by new and existing customers but funds must be new money to the Society.

Gary Lacey, N&P's savings product manager, commented:  "Our E-Bond accounts have proven very popular in the past and we expect these to be the same.  They are limited issue accounts, so we can't guarantee how long these rates will be available for.  The introduction of a 6 month term complements our existing range of E-Bonds, providing a real choice for customers who prefer to save online and want certainty in the current climate but also don't want to tie their money up for a long period of time. Our new 6 Month E-Bond (and improved 1 year E-Bond) meet these customer needs and will also help us attract new customers to the Society."