Lender adds to range of fixed rate bonds

Anyone considering taking the opportunity to compare  on the most attractive  packages available in the UK may wish to look at two new products launched by one financier.As of today (April 20th), Barn…

Anyone considering taking the opportunity to compare  on the most attractive  packages available in the UK may wish to look at two new products launched by one financier.

As of today (April 20th), Barnsley Building Society has added to its range of  on the internet by creating a one and five-year alternative to its current suite of deals in order to make them more competitive in the marketplace.

The one-year product has a gross annual equivalent rate of 3.4 per cent, while the five-year alternative – which may appeal to those eager to secure their savings over a longer period – is fixed at a figure of five per cent.

Mike Helliwell, savings product manager at the lender, commented: “Lots of people now choose to manage their money online so we’ve made these latest bonds easy and convenient to open and operate.”

These deals may be ideal for university attendees, who Steve Burford of the Wealthy Student said recently should look to be more “proactive” in their approach to personal finance.

Meanwhil, figures from a lender have suggested that ISAs are now more popular.

A growing number of Britons have taken the time to compare the best ISA rates available to them in the recent past, new figures from one financier have suggested.

Family Investments has revealed that throughout 2010, its assets under management increased by 43 per cent to more than £3 billion, a climb that the lender attributes largely to “strong ISA sales”.

Furthermore, the company stated it expects the trend of people storing cash in child trust funds to continue in their replacement form of the junior ISA, which, the government has said, will be launched on November 1st of this year.

Chief executive of Family Investments John Reeve labelled sales of such products as “excellent” over the course of 2010 and noted that their strong level of popularity “outperformed our forecasts”.

This appears to correlate with the opinion of Jasmine Birtles of Money Magpie, who said recently that there is now a greater appetite to save among many Britons. 

Leave a Reply

Your email address will not be published. Required fields are marked *