Barclays offers 4.25% fixed on three year bond

Barclays offers 4.25% fixed on three year bond

Barclays has launched a new three year fixed-rate bond paying interest at up to 4.25% gross p.a./AER.

New and existing customers can open the bond online or in branch with a minimum of £25,000 and a maximum of £500,000.

Savers can opt to receive interest monthly as a regular income at a rate of 4.17%, or at the end of the three year term as a lump sum at a rate of 4.25%.

Andy Gray, Barclays’ head of mortgages and savings, said: “From a rate perspective, this new three-year bond is comparable with many five-year bonds.

“It’s great for savers who want to get the best rate without tying up their money for five years.”

Michelle Slade, analyst at price comparison site Moneyfacts, said: “The combination of a top rate from a well known brand will see this bond having a wide appeal.

“Many other top rates require savers to commit for five years, with many worried about being left locked into an uncompetitive deal in a few years time.

“A three-year term is likely to be more attractive.”

Tags: , bond, , , , three years

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