Three-year Escalator Bond - rates up to 7.25%
25 June 2008: Stroud & Swindon, the South West’s largest Building Society, has today announced the launch of a highly competitive three-year escalator bond. This will appeal to investors who are looking for an attractive rate of return and security of their capital. Given recent stock market turbulence, many people may be concerned about market conditions and may require a shelter for their money that pays a very attractive and reliable interest rate during the short to medium term.
The interest rate on the bond increases over the three-year period as follows:
- Year one rate: 6.5%
- Year two rate: 6.75%
- Year three rate: 7.25%
The bond is available via any Stroud & Swindon branch or agency, direct and online and income from the bond is available either monthly or annually.
Briar Holdsworth, Savings Product Manager, at Stroud & Swindon comments,
“We are delighted to be able to offer this highly competitive escalator bond, which offers consumers a fantastic rate of return over the three year period. In the current market, the majority of consumers are looking for a safe and reliable home for their savings and this product offers consumers a guaranteed and highly competitive return and a safe haven from the uncertainty of today’s gloomy headlines.”
For further information please contact Stroud and Swindon Building Society on 08457 252423 or apply online
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For further comment please contact:
Amy Pegler Corporate Communications Officer
Stroud & Swindon
01453 768241
Suman Katyal / Karen Butcher
The Wriglesworth Consultancy
020 7427 1400
Notes to Editors:
Three-year Escalator Bond:
Interest on the bond stands at 6.5% (year one), 6.75% (year two), 7.25% (year three).
- Minimum investment of £2,000 applies.
- Monthly income option is available for a minimum investment of £5,000.
- AER for the three-year period is 6.83%.
- Withdrawals are not permitted from this account.
- The bond is available for new monies only.
Stroud & Swindon has assets in excess of £3.2 billion. The Society operates through a branch network of 22 offices and 20 agencies in the South West, complemented by a customer contact centre based in Gloucestershire and website.
Download PDF - Escalator Savings Bond