N&P launch new fixed rate savings bond paying 3.35%

The Norwich & Peterborough Building Society has unveiled a new 18-month fixed rate savings bond paying 3.35 per cent gross.

The new bond is available now but only for a limited time and can be opened online, in-branch or by post.

Investors need a minimum deposit of £1,000 and up to £1 million can be deposited.

N&P product manager Gary Lacey said: "Customers are telling us they're unwilling to tie up their savings for the longer term when the economic situation at home and abroad remains so uncertain.

"They still want to get the best possible return on their cash so we're pleased to be able to offer this competitive rate of 3.35 % and add to the choice of products in N&P's savings portfolio.

"We're one of the few providers to offer 18 month fixed rate bonds, which meet the needs of savers who want an attractive fixed rate and who otherwise would have to choose between either a one or a two year product.

"As the rate is so attractive, we expect the bond to be very popular and so it is unlikely to be available for long."