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High street banks release new Fixed-Rate bond

Published: 05/01/2010

High street banks Abbey and Alliance & Leicester are to launch a new range of Fixed-Rate bonds from tomorrow (Wednesday January 6th).

These will pay out up to 4.10 per cent gross rate per annum and are available to both new and existing customers.

Reza Attar-Zadeh, director of savings and investments at Abbey, said: "These bonds could be ideal for those savers looking for a guaranteed fixed income, knowing exactly what return they will receive.

"With rates of up to 4.10 per cent available, this latest range offers competitive returns. However, rates are available for a limited time only and may be withdrawn without notice, so we would encourage people to open one without delay."

This high figure will be available to those who save £25,000 or more over two years with the bank, with the lowest rate offered by the new Fixed-Rate bonds a 2.50 per cent gross rate per annum for customers who save between £1 and £9,999 for one year.

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