YBS launches new one-year fixed bond

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A NEW savings bond was unveiled by Yorkshire Building Society yesterday.

The new one-year fixed rate bond pays 3.50 per cent AER and matures on January 31, 2013.

Mike Helliwell, Yorkshire Building Society savings product manager, said: “We know many savers are unwilling to tie up their money longer term at the moment, when so much uncertainty remains about interest rates and what may happen to them in the future.

“The new savings bond offers a best buy rate for a shorter-term fixed period and we are introducing it across all channels so savers can open and operate their account in the way that suits them best.”

The minimum deposit in the new bond is £1,000 and customers can invest up to £2m in the account. The bond can be opened at the society’s 135 branches or 94 agencies.