N&P increases rate of 1 year Fixed Rate Bond and E-Bond

N&P (Norwich & Peterborough Building Society) is increasing the rate on its One Year Fixed Rate Bond and One Year E-Bond.

From Wednesday 17th November, the Bonds will both offer a fixed rate of 3.00% gross AER (2.40% net).

Gary Lacey, N&P's savings product manager, commented:  "This increase in interest rate on our one year Bonds is good news for savers. Christmas is just around the corner, but for those savers who are particularly organised, they can open a one year Fixed Rate Bond or E-Bond now, and this will ensure they have a bumper Christmas in 2011, with a juicy return on their cash."

Investment between £1,000 and £1 million

One Year Fixed Rate Bond and E-Bond have an interest rate of 3.00% gross AER (3.00% gross pa, 2.40% net)

Applications can be made online at nandp.co.uk/savings/fixed-rate-savings, or by printing an application form from the website and sending it to N&P with a cheque

No further deposits allowed

The E-Bond can be opened online with 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 E-Bond may be opened by new and existing customers, but funds must be new money to the Society.

The minimum investment for both fixed rate savings accounts is £1,000 and no further deposits are allowed after the opening balance.

For full details, visit nandp.co.uk.