Clydesdale Bank launches 4.5% one-year bond

Clydesdale Bank has launched a new one-year fixed-rate bond paying interest at 4.5%.

The bond is exclusively available to customers also taking out an AXA investment product with the bank.

Savers must invest at least £2,000 in the bond, and the equivalent in an AXA investment product.

No withdrawals can be made from the bond. Customers who withdraw money from the bond are forced to close to account and are charged an early closure fee of at least £30.

Clydesdale said that customers who spread their investments between a bond and an investment product are reducing the risk to their money.

“By combining an investment product from AXA with the market leading rate and security of fixed rate bond from Clydesdale, savers can make sure their money is punching its weight in the fight for the best returns, without taking too many risks,” said Steve Reid, Clydesdale Bank retail director.

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