Yorkshire Building Society launches e-Bonds
Yorkshire Building Society has launched an internet based fixed rate savings bond - a 1 year bond paying 6.20 per cent Gross AER. This product is available until 31st May 2008. After this first issue all subsequent bond rates will be set in line with current market conditions. This new bond is only available online and you can deposit savings using your debit card, which will start earning you interest quicker than if you deposited a cheque.You can open an e-Bond with just £100 and have up to £500,000 and there is a monthly interest option if you rely on your savings for your income.
At the end of the bond term the product will move onto Yorkshire’s Internet Saver account, providing instant access to your funds and this is currebtly paying 5.75% Gross AER. The additional bonds to be launched by Yorkshire will have fixed terms ranging from 6 months to 5 years.
Yorkshire’s Head of e-Commerce, David Jackson, said “Increasingly people value the flexibility offered by the internet and the convenience of managing their lifestyle at a time and place that suits them. Every aspect of the new bond can be processed from a laptop without the requirement of printers and postal services, which I believe meets the demands of today’s consumer.”