Bond rates up further
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The upward movement in long-term guaranteed bond rates continued this week with an announcement by General Portfolio that it is to increase three and five-year rates by 0.2 per cent.
The highest rate is now 7.1 per cent net for five-year savings above pounds 50,000. This is the equivalent of 9.46 per cent gross of basic tax. The three-year rate stands at 6.5 per cent net, up from 6.3 per cent.
Chelsea Building Society has launched a five-year fixed bond, offering 9 per cent gross on savings above pounds 10,000. No capital withdrawals are allowed once an account is opened.
Portman Building Society has refined its Step-Up bond to allow the payment of income monthly without any cut in guaranteed annual rates of return, which start at 6 per cent in year one and rise to 10 per cent in year five.
/ET
SIX OF THE BEST
Savings
Type Account Term *0% *25% *40% Min
GIB Chase de Vere 5 years 7.61 7.61 6.47 pounds 10,000
B Soc Nottingham Instant 6.60 4.95 3.96 pounds 25,000
Tessa Market Harborough 5 years 7.60 7.60 7.60 pounds 9,000
*Compounded annual rate except for GIB (guaranteed income bond)
Source: Chase De Vere 071-404 5766
Mortgages
Type Source Deal
Variable Northern Rock* 2.94% discounted rate on 90% loans
Fixed First Mortgage Securities 7.85% for 4.5 yrs on 75% loans
Capped Royal Bank of Scotland 8.99% for 5 yrs on 95% loans
*Arrangement fee of pounds 150. Household insurance through Northern Rock.
Source :John Charcol 071-611 7000
/ET
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments