A new one-year guaranteed bond has been launched by Scarborough Channel Islands Limited (SCIL).
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Savers depositing a sum of money between £25,000 and £99,999.99 will benefit from an interest rate of 6.4 per cent, while those with balances of £5,000 up to £24,999.99 will receive interest at 6.3 per cent.
SCIL managing director Tony Burdin said: “We believe in listening to our customers and have created this product in response to feedback which suggested they value the security of guaranteed returns.”
Abbey also launched a one-year fixed-rate bond recently, offering savers 7.01 per cent interest on amounts between £30,000 and £2 million.
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