Savers needing to get hold of their money in a hurry will be able to withdraw funds from a new 1 Year Premium Access Bond launched today by Hinckley & Rugby Building Society.
“Savers like the long-term nature of a bond but sometimes can be faced with an emergency,” said Hinckley & Rugby chief executive Chris White.
“Often they will be heavily penalised for an early withdrawal, but our new 1 Year Premium Access Bond is different. It’s a new kind of bond which allows one withdrawal without penalty if the unexpected happens.”
And that’s not the only novel feature of the bond; unlike other bonds the 1 Year Premium Access Bond allows the saver to pay more money in after making the initial investment.
“We think that’s a double incentive to choose this new kind of bond,” said Chris.
Hinckley & Rugby’s new bond has a minimum investment of £5,000 and a maximum of £300,000. The bond pays 2.25 per cent gross/AER interest for the first 12 months, after which it converts to Premium Saver Easy Access Account that allows one penalty-free withdrawal per month. A monthly income version of the bond is also available.
The new bond joins a family of savings products from Hinckley & Rugby Building Society, which includes fixed rates, easy access accounts, ISAs and tailored accounts for children and people aged 50 and over.
To find out more about Hinckley & Rugby Building Society please CLICK here to visit their feature on the bestofhinckley or call 0800 434 6343.