Three-year bond offer

YORKSHIRE Building Society is replacing its four-year savings bond with a three- year version offering 8 per cent gross if interest is taken annually. Minimum investment is pounds 5,000.

The Bradford & Bingley is launching a postal account offering 5.4 per cent gross on balances of pounds 1,000. The society claims its rate is the best for deposits of this size.

Its rates rise to 5.9 per cent on balances of pounds 10,000, which B&B claims make it one of the four top interest-payers for deposits of this size.

Beating it at the pounds 10,000 level are Birmingham Midshires 1st Class Account and Britannia Capital Trust, which both offer 6 per cent gross, while Nationwide InvestDirect matches Bradford & Bingley's 5.9 per cent.

National & Provincial is joining the Government's save-as-you-earn scheme whereby investors can save up to pounds 20 a month. After five years savers earn pounds 280 on their pounds 1,200 total savings.