UK Money News
13th June 2008
Competitive fixed rate bonds are 'fantastic' for savers
The current range of competitive fixed rate bonds offer "fantastic" value for savers, a price comparison site has claimed.
Latterly, competition among banks and building societies for consumer deposits has resulted in consumers being offered increasingly attractive rates on savings acouunts and bonds.
Responding to the trend, Kevin Mountford, head of moneysupermarket.com, said the situation favoured savers and highlighted products he felt would enable them to make the most of their money.
He said: "Following FirstSave's table-topping fixed rate bond launch at 7.1 per cent and Kaupthing Edge increasing the rate on its one year bond to 7.01 per cent, it seems British banks are keeping up with competition.
"West Bromwich building Society is offering a rate of 7.05 per cent AER, and as of Saturday, savers can lock into Yorkshire Building Society for two years at a rate of seven per cent AER."
Mr Mountford also urged savers to look out for improved offers in the next few months, "with better rates to trickle through if the Bank of England raises interest rates again".
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