E-Bond Savings Account Interest Rate Increase
Published: 2 December 2010
By Diane Ray Leave a Comment
Updated: 2 December 2010
Norwich & Peterborough Building Society has increased the interest rate on its One Year Fixed Rate E-Bond savings account which will mature in time for Christmas 2011.
The savings account now has an interest rate of 3.15% (2.52% net), an increase of 0.15%. Investment of between £1,000 and £1 million can be made.
No early access or closure of this savings account is permitted and no further deposits are allowed.
Gary Lacey, N&P’s savings product manager, commented: “This increase in interest rate on our Six Month and One Year E-Bonds is good news for savers.”
He added “This is also a great opportunity for savvy savers who might be looking to earn some extra cash in time for their summer holidays. They can open a Six Month Fixed Rate E-Bond now, which could provide a very welcome boost to their spending money.”
The interest rate on the Six Month Fixed Rate E-Bond has also been increased from 2.25% to 2.55%.
The E-Bond may be opened by new and existing customers, but funds must be new money to the Society.
Applications can be made online at www.nandp.co.uk/savings/fixed-rate-savings, or by printing an application form from the website and sending it to N&P with a cheque.
This increase by N&P, follows the launch of a Christmas Saver savings account by Yorkshire Building Society with a fixed interesr rate of 3.5%, albeit the maximum that can be invested in this account is £1,200.
