Skipton
Building Society has unveiled details of its revamped range of
savings bonds
, which may be of interest to consumers looking to start
saving money.
Launching on February 7th 2007, the
financial services provider is offering a new one-year
fixed-rate
savings bond, which offers a gross annual
savings rate of 5.96 per cent.
At the same time, two-year and three-year fixed-rated savings bonds
that also offer 5.96 per cent gross interest per annum will be
launched.
John Goodfellow, chief executive of the financial services
provider, commented on the savings bond rate changes.
This latest increase … has led them to be some of the
most competitive around and I'm sure savers will be taking the
opportunity to gain a generous return on their
investments , he said.
Savings bonds involve the customer agreeing to invest a certain
amount of
money for a set period of time without making any withdrawals
or deposits at a later stage.
When the savings bond matures, the bondholder receives the original
sum invested as well as a set amount of interest, as stipulated in
the original contract.
