(PRWEB UK) 12 October 2013
The West Brom has launched two new savings products with market leading rates of 3.15% fixed over five years to give greater returns to customers.
Both the Five Year Fixed Rate Bond (3.15% gross p.a./AER) and the Five Year Fixed Rate ISA (3.15% tax free p.a./AER) are available from the Society’s branches, by phone or by post for a minimum investment of £1,000.
The five year ISA allows a maximum investment of £5,760 for the current tax year and accepts transfers in as part of the opening deposit.
Interest is paid annually on the ISA. The five year bond has a monthly interest option paying 3.11% gross.
Withdrawals are not permitted from either product, although the ISA can be closed early subject to a charge equivalent to 180 days loss of interest.
James Wright, the West Brom’s Divisional Director for Marketing and E-Commerce, said: “We are committed to helping savers by keeping our rates competitive. These new fixed rate saving products are ideal for people looking for a best buy return on their savings during challenging times.
“In particular, the Five Year Fixed Rate ISA currently offers a return higher than inflation* thanks to its tax free status. It allows savers to maximise their annual ISA allowance and the transfer in option is sure to be very welcome.”
Products are fixed until 30 November 2018 and are available to new and existing West Brom customers.
Five Year Fixed Rate Bond:
Five Year Fixed Rate ISA: