Loughborough Building Society releases new fixed bond

Friday, 30 September 2011 12:09

Loughborough Building Society is offering an new fixed-rate bond exclusively to East Midlands residents.

Featuring an annual interest rate of 3.25 per cent, the two-year fixed rate bond is a great investment opportunity for people with a lump sum of £500 or more, the building society suggested.

Gary Brebner, chief executive officer of The Loughborough, commented: "It's been a tough market for savers over the last few years so our new two-year fixed rate bond will be a welcome treat for many savers."

He cited research which showed £100 billion is sitting in current accounts earning no interest at all, meaning high earning savings accounts are the smart move.

Earlier this month, Leeds Building Society launched a new short-term fixed-rate postal bond paying a guaranteed return of 2.80 per cent gross.

The move followed the recent unveiling of its new one-year fixed-rate bond, which pays 3.46 per cent.

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