Bradford & Bingley is launching a 6-month fixed rate savings bond paying 5 per cent a year.
The Double Guarantee bond matures in March 2005 after which it transfers into B&B's Premium Saver instant savings account that pays 3.8 per cent a year. The minimum and maximum investments are £2,000 and £100,000 respectively.
Bradford & Bingley head of savings product development Antony Lupton says: “The double guarantee bond has been very popular with savers previously, and the new version should prove even more so. This account guarantees never to fall more than 1 per cent below the Bank of England Base Rate.”