The rate increase will have a major impact on our customers’ savings – particularly those customers who are looking to earn a regular income from their savings.
(PRWEB) June 22, 2010
As we approach July – the expected peak month for bond maturities – Barclays today launches a competitive two year fixed rate bond paying up to 3.70 per cent. Since a number of fixed rate offers have been withdrawn or reduced recently in the market, this new bond sees Barclays bucking this trend and offers one of the strongest products available.
Barclays top paying bond offers 3.70 per cent gross p.a/AER on balances above £50,000 and 3.30 per cent gross p.a / AER on balances below £50,000 – the minimum investment is just £500. It will serve as a safe haven for customers, taking advantage of the ongoing low base rate environment which is not predicted to change in the medium term.
For customers who want a shorter term bond, Barclays continues to offer its one year fixed rate bond paying 2.50 per cent gross p.a. / AER for balances above £50,000 and 2.00 per cent gross p.a / AER for balances below £50,000. Again, the minimum investment is £500.
Andy Gray, Barclays Head of Mortgages and Savings said: “Our two year fixed rate is one of the best short term rates available to savers, particularly at a time when some competitors have been cutting their rates. This bond gives savers a safe haven for their money, offering them the opportunity to secure a great high fixed interest rate from just £500.
“The rate increase will have a major impact on our customers’ savings – particularly those customers who are looking to earn a regular income from their savings.”
This new fixed rate bond is available to existing Barclays customers and new customers. New and existing customers can open their fixed rate bond instantly through a branch. In addition Barclays current account customers using online banking can apply online http://www.barclays.co.uk/savings or by telephone banking 0845 301 0333.
2 Year Fixed Rate Savings Bond - Issue 61
Balances £500 - £49,999.99
Monthly Interest Option - Gross p.a.: 3.25%
Monthly Interest Option - Net p.a.: 2.60%
Annual/End of Term Interest Option - Gross p.a.: 3.30%
Annual/End of Term Interest Option - Net p.a.: 2.64%
AER % (all interest options): 3.30%
Monthly Interest Option - Gross p.a.: 3.64%
Monthly Interest Option - Net p.a.: 2.9%
Annual/End of Term Interest Option - Gross p.a.: 3.70%
Annual/End of Term Interest Option - Net p.a.: 2.96%
AER % (all interest options): 3.70%
Barclays is a major global financial services provider engaged in retail banking (current accounts and savings accounts), credit cards, corporate banking, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people. Barclays moves, invests and protects money and provides personal loans, home insurance, life insurance and other services for over 49 million customers and clients worldwide. For further information about Barclays, please visit our website http://www.barclays.co.uk.
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