The widely anticipated 3 year bond from
National Savings & Investments has arrived! The Chancellor announced the planned release of the market-leading product in the Autumn Statement 2016 and it has arrived in the Spring as promised.
The new
Investment Guaranteed Growth Bond 3-year term Issue 1 pays a market-leading rate of 2.20% gross/AER on balances between £100 and £3000.The new bond will be on sale for the next 12 months and currently sits head and shoulders above the rest of the field.
The closest challenger to this new account is
Secure Trust Bank, paying 2.00% gross/AER on its
Fixed Rate Bond 3 Year Term. In turn its closest competition comes in the form of
OakNorth Bank, paying 1.91% gross/AER on its
36 Month Fixed Term Deposit.
Although paying lower rates of interest, both of these accounts have far higher maximum limits, so it is important to take this into consideration when looking to gain the best returns.
These accounts and further available options can be found in our
Fixed Rate Bond Best Buy Tables.
As always, if you would like any help with your savings or would like to discuss further options, please call us on
0800 321 3581, we’d love to hear from you.
@savingschampion
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