Online savers seek out Yorkshire bond

Online savers have been snapping up the latest best buy one year bond from Yorkshire Building Society.

The online bond, which pays 3.5% gross/AER, was introduced last month to meet customer demand for greater choice in short-term investments.

Yorkshire's Savings Product Manager Mike Helliwell said business had been brisk since the bond was launched.

"We knew that customers were interested in shorter term investments because of speculation about a rise in the Bank of England base rate but this bond is proving exceptionally popular.

"With a minimum balance of £1,000, savers can get a best buy rate and keep their options open about what to do with their cash in a year's time."

The bond matures in July 2012 and is available online - visit ybs.co.uk/ for more details. Savers can invest up to a maximum of £2,000,000.

The one year bond is complemented by an 18 month bond, offering a competitive 3.6% gross/AER, which matures in February 2013.