A new bond from Sainsbury's Bank has been launched offering savers and investors a set rate until October 2007.
The product, which is a one-year fixed-rate investment bond, has been unveiled by the financial arm of the supermarket chain this week and is offered to investors able to commit £3,000 or more to an account.
The investment is "risk free", the company says, offering a set rate of five per cent guaranteed gross return. The fund is only available for a short period, until the strict funds limit is reached, at which time no further investment will be permitted.
Interest will be paid following the account's maturation on October 9th, 2007 and applications are being accepted at the moment, subject to a maximum individual limit of £1 million.
Further information on this Fixed Rate Saver and other Sainsbury's Bank products is available at the institution's website
.For more information on other leading UK savings accounts, click here.
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