West Brom launches market leading fixed rate ISA

The West Brom is strengthening its product range with a choice of four year fixed rate savings solutions each offering a market leading rate of 4.31% gross p.a./AER.

Customers can opt for a savings bond or a tax free fixed rate ISA and also choose whether they want to save through their local branch or the Society’s website, westbrom.co.uk.

Products are fixed until 31 March 2015 and are available to new and existing West Brom customers.

The 4 Year Fixed Rate Bond has an option for interest to be paid annually or taken as a monthly income. Interest on the 4 Year Fixed Rate ISA is paid annually.

Stephen Leonard, the West Brom’s Divisional Director for Marketing and E-Commerce, said: “Fixed rate savings products provide certainty of return for customers.

“We are offering a market leading rate of 4.31% gross p.a./AER over four years, plus the flexibility of opening an account either through a West Brom branch or online.

“In addition, the ISA option presents a tax efficient way of saving while still achieving a great return.

“The West Brom remains committed to providing attractive rates to help customers make the most of their savings and has achieved over 180 best buy mentions in national newspapers so far during 2011.”

4 Year Fixed Rate Bond:
- 4.31% gross p.a./AER from 16 March 2011. Fixed until 31 March 2015
- The minimum investment is £1,000 and the maximum £1 million for single and £2 million for joint accounts
- No additional deposits or withdrawals are allowed during the product term
- Monthly interest must be paid away. Annual interest can be credited to the Bond
- Available through the West Brom’s branch network

WeBSave 4 Year Fixed Bond:
- As above, but only available online at: westbrom.co.uk

4 Year Fixed Rate ISA:
- 4.31% gross p.a./AER tax free from 16 March 2011. Fixed until 31 March 2015
- The minimum investment is £1,000. The maximum is £5,100 for the current tax year (2010/11) or £5,340 for the coming tax year (2011/12), plus transfers in from previous years’ ISAs
- Investment must be made as a lump sum. No additional deposits are permitted
- Access with 120 days loss of interest on the amount withdrawn
- Interest paid annually, either away or credited to the account
- Available through the West Brom’s branch network

WeBSave 4 Year Fixed ISA:
- As above, but only available online at: westbrom.co.uk