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, managing director of Yorkshire Guernsey, said; "The stepped bond will appeal to investors seeking the security of a guaranteed competitive interest rate."
Minimum investment is £5,000 with a maximum of £1,000,000.
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