If you’re looking for a place to invest your cash and not too sure about investing it in the turbulent stock market then the Nationwide Fixed Rate Bond could be the  account for you.

Nationwide are offering up to 3.40 gross p.a / AER with a minimum invesment of just £1 and a maximum of £2,000,000. The bond is for a duration of 14 months and you cannot make any withdrawals or additional deposits. If you have to get access to your money before the 14 month bond has finished you will have to pay an early closure fee of 180 days’ interest.

The 3.40 AER interest rate is only available for account balances of £50,000 or more but you can still get a great rate for smaller deposit amounts. £1 to £9,999 gets 3.15 AER, £10,000 to £24,999 gets 3.20 AER and £25,000 to £49,999 gets 3.30 AER. Interest can be paid annualy if you’re looking for a simple investment or monthly if you need the interest for other purposes.

If you can lock your money away for a longer period Nationwide will reward you with a higher interest rate.

 

This review was posted on Tuesday, October 4th, 2011 and the offer details may have changed or ended since writing or updating. Check the company website for up to date information on offers.

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