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Bristol & West offering two versions of Escalator bond

Bristol & West is aiming an investment bond at savers wanting a regular income.

It says the Escalator bond is ideal for investors looking to maximise income in retirement.

The three-year bond pays a higher interest rate each year and is available in two forms.

The monthly version has a rate starting at 3.64 per cent in year one, rising to 4.02 per cent in year two and 4.89 per cent in year three. Minimum investment for this version is £5,000.

The second version pays out a higher rate annually, starting at 3.7 per cent in the first year, 4.1 per cent in year two and 5 per cent in year three.

Minimum investment is £1,000 through the bank&#39s branch network or £5,000 if it is set up via the post or phone.

Head of product market-ing David Harris says: “Escalator bonds can offer a lifeline to hard-pressed savers by increasing the level of income they receive each year and helping them keep ahead of inflation.”


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