Two-year stepped rate bond launch

Yorkshire Guernsey has launched a two-year stepped rate bond. The bond is available to new and existing customers and offers interest on an annual basis at a fixed rate, which increases in the second year. Year one will run from receipt of deposit until 30 November 2004 when a fixed annual interest rate of 4.5% will be paid gross. Year two will run from 1 December 2004 to 30 November 2005 with an annual interest rate of 5% gross. Investors will have instant access to the funds from 1 December 2005. The annual interest may be capitalised or paid to the investor. Peter Symes, managi...