RBS and NatWest announce 3-year escalator bond
RBS and NatWest have launched a new three year fixed-rate bond paying interest at up to 5.0% AER.
The escalator bond requires a minimum investment of £5,000, and matures on 29 May 2012.
Interest is paid at 3.0% gross in the first year, 4.0% in the second year, and 5.0% in the financial year.
Interest can be paid either monthly or annually, and savers can opt to have the interest paid direct into their NatWest or RBS current or savings account.
Carol Sleith, head of savings at NatWest and RBS, said: “In the current climate, many customers are looking for the best way to get a guaranteed return on their money.”
She added that the three year bond is designed to give customers ‘peace of mind’ that their money is secure and working hard for them.