Rothschild offers new 5yr fix deposit account

Rothschild Reserve has launched a new five-year fixed-rate bank deposit account offering a very competitive return at a time when interest rates have been declining.

The savings account offers the company's best savings rates, starting at 4.60 per cent for the five-year term.

Maturity of the deposit will be reached in September 2015 and requires a minimum investment of £20,000.

Customers who take up the offer cannot add further funds to the account or make any withdrawals until the maturity date is reached.

Payment of the interest gained can be monthly, annually or all at maturity. Monthly payments begin in November 2010 and yearly interest commences on September 1st 2011.

Interest can be paid into any bank account nominated by the customer.

The new product is a welcome addition to the savings and bonds market as recent reports have shown that savers are struggling to find rates high enough to offer good returns on their investments.

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2010-09-21 11:46:13 © Moneyextra.com