Sainsbury's Bank has announced the launch of a new one-year savings bond that guarantees a fixed rate return, though investors should act quickly if they want to take advantage of the offer as it is only open for a limited period.
Lump sum investments of £3,000 and above can be placed in an account, with the date of maturity at 15 May 2007. No further deposits are permitted during the year, though partial withdrawals may be possible, subject to conditions.
At this time next year, Sainsbury's Fixed Rate Saver account holders who leave their investment until maturity will enjoy a fixed growth rate of 4.90 per cent AER/gross on their original sum.
Individuals are eligible to apply, though the account is not for businesses, organisations, or beneficiaries other than the account holder.
The Sainsbury's Fixed Rate Saver will only be available until the fund investment limit has been reached. Applications should be made via the Internet.To compare savings accounts, click here.
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