The stepped rates start at 6 per cent in year one, ending at 10 per cent after five years. This compares with the old rate of 5.5 per cent, rising to 9.5 per cent. Interest is payable annually or on maturity.
M&G, the investment company, has launched a Lifetime Distribution Bond offering various options designed to maximise income or build capital. The Maximum Income Fund will pay quarterly income of 6.4 per cent.
City & Metropolitan Building Society is offering 6.7 per cent interest, paid monthly, for investments above pounds 25,000 in its Super 90 account.
Chelsea Building Society's fixed-rate bond offers 7.6 per cent fixed until June 1997 for investments above pounds 10,000.Reuse content