New 60+ bond from Portman paying high rate
11/08/2006
A new investment bond from Portman Building Society has been launched, offering a market leading interest rate of 5.4 per cent AER.
The product has a gross interest rate of 5.27 per cent on balances of £5,000 and over and is available to savers who are aged 60 and above.
The rate is fixed for one year, with interest paid in monthly instalments, meaning bond-holders can see their money growing regularly when they save.
An investment of £100,000 for an individual account is the upper limit for the account, although a joint account held by up to four holders together allows for a maximum investment of £200,000.
"Portman is committed to offering continually competitive savings rates across its range and this latest addition provides savers aged 60 and over with a guaranteed monthly income at a superb rate of interest," said Helen Shaw, group communications manager at Portman.
"We are confident that it will prove highly popular," she added. The account must be opened and operated through one of Portman's 143 branches.
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