Banking/Savings Section

IceSave Launches 3 Fixed-Rate Savings Bonds. 1-3 Year & Up to 6.7% Interest

October 2007

IceSave the new bank which has taken the UK savings world by storm due mainly to its excellent no catches instant access savings accounts (more details on this article) has just released three different fixed rate bonds to celebrate the bank’s one-year anniversary.

Details - Note the interest rate on all bonds is fixed

• One-year bond pays 6.7% gross interest a year
• Two-year bond pays 6.6%
• Three-year bond pays 6.5%
• There are also monthly interest option is on these bonds for savers looking for an income, interest rates are 6.5% (1 year), 6.41% (2 year) and 6.31% (3 year)
• The minimum investment for any one of the bonds is £1,000
• Payment for any of the bonds can be made from an IceSave online account, cheque or a direct debit transfer from a nominated account
• Note that none of these bonds are flexible so that once money has been deposited you are not allowed to increase the amount and perhaps more importantly make any withdrawals during the bonds fixed term

Summary

IceSave seems so far to have been pretty successful when taking on the establishment banks and building societies in the UK. Their success looks like it boils down to two important points -

1. Offer simple products, explain them in a simple fashion and have little or no small print, and of course
2. Offer their customers great rates of interest

Case in point is these excellent fixed rate savings bonds.

See Also

• More details - On these IceSave Savings Bonds
• More details - The IceSave no-nonsense Savings account