Skipton ups rates on fixed bond range

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Tuesday, 17 January 2012 16:37

Skipton Building Society has launched a new suite of fixed rate bonds with rates on some bonds increasing by up to 0.40%.

Commenting, Kris Brewster, Skipton’s head of products, said: “Our fixed rate bonds consistently rank among the most competitive available and we are delighted to be able to reward savers even more with a rate increase on our shorter term products, while continuing to offer excellent value across our bond range.”

The new bonds are just the latest competitive products launched by Skipton so far this year, to encourage and reward people for developing the saving habit. The society has also added a My New Year’s Resolution Saver to its My Savings goal-based account range for a limited time.

This offering combines a rate of 2.50% with easy access and the encouragement people need to keep what they are saving up for very much in mind.

It means that there are now 13 accounts in the My Savings range – including everything from a ‘My Bills Saver’ to a ‘My Retirement Saver’ and, for those looking forward to a warmer time of year, a ‘My Holiday Saver’.

The My New Year’s Resolution Saver replaces the limited edition My Christmas Saver which Skipton launched at the end of November to help people start putting away some cash towards Christmas 2012.
Product details for the new suite are as follows:

1 Year Fixed Rate Bond

Fixed until 15 February 2013

£500-£24,999: interest rate 2.85% p.a. AER (was 2.45%);

£25,000-£49,999: interest rate 2.95% p.a. AER (was 2.55%);

£50,000 plus: interest rate 3.05% (was 2.65%).

2 Year Fixed Rate Bond

Fixed until 15 February 2014

£500-£24,999: interest rate 3.05% p.a. AER (was 2.85%);

£25,000-£49,999: interest rate 3.15% p.a. AER (was 2.95%);

£50,000 plus: interest rate 3.20% p.a. AER (was 3.05%).

3 Year Fixed Rate Bond

Fixed until 15 February 2015

£500-£24,999: interest rate 3.25% p.a. AER (unchanged);