Scarborough’s New Fixed Rate Bond Pays Up To 5.65%

Press release published on 17 November 2006 by Scarborough Building Society

Amid growing uncertainty over medium term interest rate trends, Scarborough Building Society has launched a new savings bond guaranteeing customers great returns for two years.

In line with its commitment to offering members long term good value, the Society’s new Guaranteed Bond pays an outstanding rate of up to 5.65%, fixed for two years.

Guaranteed Bond accounts can be opened with £1,000 to £500,000, and customers can choose to receive their interest either monthly or yearly.

The branch version of the Guaranteed Bond account pays 5.30% interest, also fixed for two years

And, although customers cannot add to their balance once they have opened their account, they can open another Guaranteed Bond account at any time, and salt away more cash if they wish to, subject to availability.

Head of Group Marketing, Tony Burdin, said: ‘We’re constantly reviewing our savings accounts to ensure we offer our members some of the most competitive deals available at any given time.

‘We believe the Guaranteed Bond does this, as well as providing them with the certainty of knowing exactly what their returns will be, whatever happens to interest rates in the medium term.’

Anyone interested in opening a Guaranteed Bond account should can either visit any Scarborough branch, or call Scarborough Direct on 0845 458 4522, and one of our friendly customer service staff will be happy to help.

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