Barclays' fixed-rate bond pays market-leading rate

As consumers look for the best savings rates on the market Barclays has launched a five-year fixed-rate bond paying some of the most competitive savings rates on the market.

The five-year bond pays a saving rate of 4.75 per cent gross per annum/AER on balances over £50,000 with a maximum investment of £1 million.

For balances below £50,000 the bond pays a rate of 4.25 per cent with a minimum investment of £500.

Barclays' fixed-rate bond offers the flexibility of three different interest payments. Savers can opt for monthly, annual or an end of term lump sum with interest compounded annually.

Andy Gray, Barclays Head of Savings, said: "More savers are turning to fixed rate bonds that offer a guaranteed rate of return as a safe way to plan for the future.

"With the base rate at 0.50 per cent and no certainty on when it will change or how soon, savvy customers can enjoy a 'best of class' interest rate which is eight to nine times more than the base rate."

Barclays Wealth recently reissued its FTSE returns plan, which offers customers some of the best savings rates on the market and a significant return without risking the initial investment.
 

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2011-02-22 12:43:45 © Moneyextra.com