Skipton offers 2-year bond at 3.5%

Skipton International has launched a new fixed-rate sterling account paying 3.5 per cent gross per annum.

The Guernsey-based savings and mortgages provider requires a minimum deposit of £10,000 to access the account, which offers the same savings interest rates to all balances.

Consumers may place a maximum of £1,000,000 in the bond, although this upper limit may be extended subject to negotiation.

Interest will be paid annually on March 31st 2011 and again 12 months later upon maturity of the account.

Commercial director Jim Coupe said the Skipton International Two-Year Bond enables savers to know exactly how much they will receive on the two interest payment dates".

"We have designed the account to run over two years, as we believe this will offer a good balance between long term stability and ease of access to funds in the future," he added.

Last week, first direct launched a new savings bond, paying a rate of 2.75 per cent in interest to consumers who invest between £2,000 and £49,999.

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2010-02-16 13:33:21 © Moneyextra.com