Skipton International launches short-term bond

Skipton International is offering a six-month bond paying 2.26 per cent AER or 2.17 per cent AER as a monthly income option.

Consumers interested in the product are being urged to move quickly as the bond is a limited edition issue and will be withdrawn when fully-subscribed.

The product, which requires a minimum deposit of £10,000, matures on November 30th 2010. No withdrawals are permitted during the fixed-rate term.

Jim Coupe, commercial director of Skipton International, said that in response to client demand, the firm was "pleased" to be offering a "competitive" fixed-rate bond.

"With the backing of our parent, Skipton Building Society, the fourth largest in the UK, this account provides both safety and security," he stated.

Mr Coupe noted that the bond offers savers a known return over the next six months, whatever happens in the markets.

Last month, ING Direct reported that the amount saved by British consumers fell by eight per cent during the first three months of 2010.

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2010-05-10 13:40:19 © Moneyextra.com