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Yorkshire three-year stepped-rate bond offers up to 8% return

Yorkshire Building Society is offering a stepped-rate bond with an

interest rate that can reach 8 per cent.

The rates are graduated over the three-year life of the product. In the

first year, the annual rate is 6.25 per cent, 7 per cent in the second year

and a maximum of 8 per cent in the third year.

Investors can opt for monthly interest rates of6.08 per cent in the first

year, 6.79 per cent in the second year and 7.72 per cent inthe third year.

Investors can cash in the bond at the end of each year subject to a 180-day

interest penalty rate.

The minimum investment is £5,000 and the maximum is £500,000. The bond is

available until June 30.

Corporate affairs spokes- man Iain Cornish says: “The product was created

with the thought that interest rates may be nearing their peak. This bond

offers the certainty of rate increases over its three-year life.”

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