Stroud & Swindon, part of Coventry Building Society has launched a new fixed rate bond savings account at 3.7% AER/Gross p.a.
The minimum investment for this new savings account is £1 with the maximum £250,000 and the Fixed Rate Bond offers 3.7% AER/Gros p.a. until 31 December 2012.
Annual interest can be added or paid away or there’s the option of monthly interest payments available for those customers wanting a regular income from their investment.
This is a no access bond – a key difference from the Fixed Rate Postal Bond savings account launched by Leeds Building Society which offers unlimited access to funds. That said there is a differential in the interest rate, with that from Stroud and Swindon being appreachably higher.
As a no access bond, early withdrawal or closure prior to maturity is not permitted. At maturity savings will be automatically reinvested unless customers instruct us otherwise. Customers may withdraw or transfer penalty-free, within 14 days of maturity.
Customers can apply by visiting www.stroudandswindon.co.uk, by telephoning the Customer Contact Centre on 0845 1227926, or by calling in to any Stroud & Swindon branch.