Skipton Building Society has launched a three year fixed rate investment bond.
The bond which is fixed until August 31,2002 is paying a rate of 6.25 per cent gross a year. The monthly income option has a rate of 6 per cent gross.
The rate is guaranteed as long as the three month Libor rate does not fall below 4.75 per cent. If the rate does fall below this level the account will automatically switch to an easy access account allowing penalty free withdrawals.
The minimum investment is £5,000 with a maximum of £1m.