Barclays ups bond rate

Barclays has launched a two-year fixed-rate bond offering customers the company's best savings rates.

The launch of the bond, offering a fixed rate of 3.55 per cent over two years, comes as savers are looking to improve the returns they receive on their savings.

The new rate represents an increase of 0.55 per cent on the top tier of the two-year bond, paying 3.55 per cent on balances over £50,000.

Andy Gray, Barclays head of savings, said: "Fixed-rate bonds have been immensely popular with customers over the last two years as they offer a guaranteed rate of interest in the low rate environment."

For customers will balances under £50,000 the three per cent rate will be maintained.

With many experts predicting that the Bank of England base rate will remain at 0.5 per cent for the foreseeable future, Barclays increase offers consumers the change to access savings rates over seven times the base rate.

Skipton Building Society recently revealed a raft of changes to its savings products, including a new 18 month bond, which pays 3.00 per cent on balances over £50,000.
 

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2010-10-01 12:38:04 © Moneyextra.com