Apr 4 2007
Savers are set to be offered a market-leading rate of 6.15 per cent AER with the launch of the latest fixed-rate savings bond from the Coventry Building Society.
With a limited availability until May 31st 2008, the new bond requires a minimum investment of £1,000, with a maximum of £250,000 and also offers savers the option of paying monthly with a rate of 5.94 per cent gross per year.
Commenting on the new product, Colin Franklin, head of sales at the Coventry, said: "We know that this new bond will be exceptionally popular with customers who are looking for a top rate of return on their savings.
"A monthly interest option is also available for those who rely on their savings for income and want the certainty that their interest rates will not change."
In addition, the offshore savings bank, Alliance and Leicester International Limited, has also announced the launch of its own one year fixed rate bond, with savers able to invest between £5,000 and £1 million with a fixed interest rate of six per cent.
