For anyone looking for a high interest paying investment option the Abbey National has just launched a one year fixed rate bond that offers a 7.01 percent interest rate.
The minimum investment amount is GBP30,000, with a maximum of GBP2 million, enough for most people. The Abbey National bond is a one year term, with an expiry date of 1 July 2009. This means that investors will have to act smartly to get their funds in within the deadline.
An Abbey National spokesman confirmed that the current market for savings and investments is the best it has been for many years and is urging consumers to take advantage of the situation while it is available.
The Nationwide Building Society has introduced half a dozen new investment bonds, with interest rates ranging from 6.5 to 6.7 percent.
The bonds cover investment periods of between 6 months and three years, therefore providing real options to suit different investors. Two of the new Nationwide Building Society bonds are e-bonds and are applicable to new FlexAccount customers while another one is valid only for customers who have been with the Nationwide for at least 3 years.
A spokesman from the Nationwide Building Society felt that the six month bonds offered an excellent return over such a short period of time and that the longer period bonds would prove excellent investment options for those happy to put their money to work for up to three years.
The Abbey National has found that over sixty percent of UK holidaymakers have used savings to finance a holiday this year, while others are using the money to pay for a holiday before it even gets to the savings account.
Over a quarter of people surveyed by the Abbey National felt that the best thing to do with the spare money they had was to use it to finance a holiday rather than put it into a savings account or other savings vehicle.
A spokesman from the Abbey National suggested taking a little bit of the money that was being allocated to holidays and use it to build up some savings. This way the person gets their holiday but also begins to build a savings fund that may well prove essential in the future.
