Natwest and RBS introduce new savings bonds

Natwest and RBS have introduced a new range of savings bonds offering customers some of the best savings rates on the market.

Customers looking for competitive savings interest rates can choose between a one of two-year fixed-rate bond or a three-year stepped rate bond.

The bonds are available to open with a minimum deposit of £5,000 with the bond term commencing on January 4th 2011.

Savers will be interested to hear that the interest rate tiers have been removed on the one-year product, meaning that all customers will receive the very competitive savings rate of three per cent AER.

Those accessing the two-year bond will receive an interest rate of 3.5 per cent AER.

For savers looking for a longer term investment, the three-year stepped bond offers very competitive rates, with interest rates increasing two per cent year-on-year, reaching six per cent by January 2013.

The news of the Natwest and RBS rate increases comes as many other financial services are offering interest rate increases on their products.
 

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2010-11-08 12:02:22 © Moneyextra.com