Barnsley Building Society has launched two very competitive online fixed-rate savings products covering terms of three and five years.
After high demand for earlier online bonds, the Society has added new 3-year and 5-year fixed rate online bonds to its product range.
The 3-year bond offers 4.05% gross AER and the 5-year bond pays 4.65% gross AER, fixed to the end of May 2014 and end of July 2016 respectively, for anyone able to save their money for the longer term.
The 5-year deal immediately features in our Best Rate fixed savings account table.
All Barnsley online bonds pay interest annually, or have a monthly interest option for those who rely on their savings for income, and savers can invest up to a maximum of £2,000,000. The minimum amount needed to open an online bond is £1,000.
A good savings deal for those with money to tie up
Commenting on the new savings bonds, Barnsley’s savings product manager, Mike Helliwell, said: ‘The new 3-year and 5-year bonds will complement the 1-year online bond the Barnsley already offers.
‘Interest in our portfolio of online bonds has been very strong this year and we are finding an increasing number of savers are choosing to manage their money online and enjoy the convenience this brings.’
Paul Davies, savings analyst at Which?, commented: ‘For those people happy to manage their money online and looking for a longer-term fix, these deals look like good value. There are a range of decent fixed-rate deals paying attractive rates at the moment, but you must be certain that you won’t need to access the cash or you’ll incur withdrawal penalties’.
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