Principality launches new fixed rate bond for the over-50s

Principality, Wales' largest building society will widen its range of bonds with the launch of a NEW high interest fixed rate savings bond for the over 50s on Monday 14 April.

Added to the Principality portfolio of savings is a One Year Over-50s Fixed Rate Bond and a One Year Over-50s Fixed Rate Monthly Income Bond, both boasting highly-competitive rates of interest of 6.46% AER.

Both bonds are also available as a two year option offering interest rates of 6.0% AER.

James Wright, Marketing Director at Principality, said: "At Principality we are committed to our customers and members and these rates really demonstrate the benefits of being part of a mutual organisation and are great news for savers.

"The new bond is positioned exclusively at the over 50s who are looking to protect their income in a climate of falling rates and market uncertainty.

"We believe the new product will prove extremely popular with savers who want to be guaranteed of an excellent return on their saving.

For those who choose the monthly income option, they can have the security of knowing that their money is working hard for them in a cash based account whilst earning a regular income." A minimum deposit of £5,000 is needed to open each of the four products, which are available at any of the 50 Principality branches in Wales, by post or online at www.prinicpality.co.uk.

Savers will have the choice of whether to have their annual or monthly interest income to be paid into another Principality account, or any other UK bank or building society.

Back to top