Santander has launched a selection of one and two-year fixed rate savings bonds paying up to 3.50 per cent.
There are three tiers of one-year savings bonds. Investors saving more than £500 will receive 2.50 per cent, this rises to 2.80 per cent for £5,000 or more and 3.10 per cent for investors saving more than £25,000.
The two-year savings bond allows investors to receive an interest rate of 3.0 per cent on balances of £500 or more, rising to 3.30 per cent on savings of more than £5,000, up to 3.50 per cent on balances of £25,000 or more.
All the savings bonds products are available through Santander branches, online or by phone.
Early closure of the savings bonds is not permitted and interest will be withheld, so potential investors need to be prepared to lock their money away for the full term.
Matt Hall, Head of Savings at Santander: “Our latest range of savings bonds continues to offer solid returns with our two year bond offering up to a 3.50 per cent. These bonds are only available while stocks last so customers wishing to take advantage should act now to secure these rates.”