The savings bond market is changing rapidly in response to the Bank of England base rate drop.

Now, Natwest has introduced a limited edition one year fixed rate savings bond at 4.75 per cent. It is aimed at savers looking for a guaranteed rate over the next twelve months.

The new limited edition one year fixed rate savings bond is intended for savers looking for savings bond value following the Base rate drop.

The new savings bond has interest paid at maturity, and a minimum investment of £5000 must be kept for the full one-year term with no withdrawals made.

The maximum balance is £20,000 and as before the new offer is only available whilst funds last.

Helen Page, NatWest brand director, commented: We are pleased to be able to offer a further product of this type following the overwhelming popularity of last month’s limited edition bond.

We believe that our NatWest savings range suits the varying needs of our customers and for our customers who are looking to put their money away for longer with a guaranteed interest rate , this is a good, competitive option.

The limited edition 1-year fixed rate bond of five per cent, that was launched last month, has now sold out.