N&P introduces six-month e-bond at 3.05%

Norwich & Peterborough N&P Building Society has announced the launch of a new Six Month E-Bond, plus an increase to the savings interest rate paid on its One Year E-Bond.

The bonds, which offer a fixed rate of 3.05 per cent gross AER, can be opened online with the initial balance paid in electronically.

Postal applications are also being welcomed – savers are required to print an application form from N&P's website and send a cheque in the post.

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

Gary Lacey, N&P's savings product manager, said the E-Bond accounts "have proven very popular in the past and we expect these to be the same".

He added: "The introduction of a six-month term complements our existing range of E-Bonds, providing a real choice for customers who prefer to save online and want certainty in the current climate but also don't want to tie their money up for a long period of time."

Earlier this week, Northern Rock launched two new issues of its fixed-rate bond which offer guaranteed savings interest rates of at least 3.15 per cent.

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

Back

2010-03-12 08:36:03 © Moneyextra.com