NFU unveils new investment bond

The NFU Mutual has launched a new bond offering one of the best savings rates around.

Its new six-year investment bond offers savers a guaranteed annual return of five per cent net of basic-rate tax.

The account is open to applications until June 24th unless it becomes fully subscribed prior to this date.

However, customers are warned that while the annual income is guaranteed, the return of investment is not and savers may get back less than they invested.

The NFU said that the savings option is ideal for someone with more than £20,000 to invest for six years that is comfortable taking more risk to provide the potential for better returns.

Chris Linpow, personal finance specialist at NFU Mutual, said: "It's especially difficult at the moment for people to find a reliable return on their money. But this new bond will provide our customers with a guaranteed quarterly income from their investment."

Meanwhile, the Norwich and Peterborough building society has launched a one year savings account offering 2.25 per cent.

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2011-05-10 14:03:13 © Moneyextra.com