Barclays announces 5.25% fixed-rate bond
Barclays has launched a new range of fixed-rate bonds paying interest at up to 5.25%.
Savers can choose between a one, two, and five year bond, with a minimum deposit of £500.
Interest on the five-year bond is paid at 5.25%, on the two year bond at 3.75% and on the one year bond at 2.50%.
Those who deposit at least £40,000 will receive an interest rate of 4.25% in the two-year bond and 3% in the one year bond.
Savers can opt to have interest paid monthly, annually, or at the end of the bond’s term.
No withdrawals or deposits can be made during the lifetime of the bond.
Andy Gray, Barclays head of mortgages and savings, said: “With the base rate still at an all-time low, savers are looking for risk-free ways to grow their capital.”
The only bonds available that beat Barclays’s offering are from niche savings provider Aldermore, and Yorkshire Building Society, whose five-year fixed-rate bonds pay 5.4% and 5.3% respectively.
Comments (1)
Visited 7118 times, 2 so far today
Is Barclays 5.25 % bond over 5 years
paid gross (no deduction of tax) for
amounts over £50,000