Mar 14 2006
Supermarket giant Sainsbury's is offering a one-year special fixed rate bond at 4.9 per cent from its banking division.
Investors with £3,000 or more to spare are being offered the chance to invest in a one-year fixed rate bond where interest will be paid at the end of the year and the promotion ends on March 13th 2007.
In the market place, the average return on this type of bond is 4.52 per cent with only five per cent of competitors offering an equal rate of 4.9 per cent or more, according to figures from Moneyfacts.
Pauline White, savings manager at Sainsbury's Bank said: "Fixed rate savings bonds offer some of the most attractive savings rates available. However, as with any savings product, it is important to shop around as returns can differ significantly."
Sainsbury's Bank, which was set up at the start of 1997 as a joint venture with Halifax Bank of Scotland, offers a range of insurance products, loans, and saving accounts.
