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Post Office launches market leading fixed rate bond

17 July 2009 / by Unknown

The Post Office has launched a new range of market leading growth bonds.

The fixed rate bonds are available over one, two or three years with interest rates ranging from 3.85 per cent for a one year investment, to 4.30 per cent for five years.

And, unlike many bonds, the Post Office fixed rate bonds are open to anyone with a minimum investment of £500. As a result, the one year deal paying 3.85 per cent has stormed to the top of the moneyfacts.co.uk short term bonds table.

Commenting on the launch, Richard Norman, Post Office director of savings and investments, said: "For savers who do not need immediate access to their savings, the new Post Office Growth Bonds offer a guaranteed return at a competitive rate."

Andrew Hagger at Moneynet.co.uk comments on the Post Office deal: "The one year bond at 3.85 per cent is the pick of the crop and currently the best paying rate for a 12 month term, but it may well be surpassed if the frenetic activity in the fixed rate savings arena continues."

Learn more about the Post Office fixed rate bonds »

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