Shawbrook launches 18 month fixed rate bond at 1.85% AER

The new issue is available today (Friday 4 April) online through the bank’s personal eSavings internet banking and by postal application.

James Blower, Director of Savings at Shawbrook Bank, said:

“Many savers are anticipating interest rates to rise in the near future so are avoiding tying up their money in long term savings accounts. Our new 18 month fixed rate bond is a great solution for those savers wanting a shorter term solution but still want a competitive rate.

“Shawbrook is committed to being consistently competitive in our offering to savers and I hope this new bond, which will be featured in many of the independent best buy tables, will be welcomed by savers looking for a competitive short term savings product.”

Savers who are permanently resident in the UK can invest any amount from £5,000 to a maximum of £2m with the interest paid either gross or net according to an individual’s tax status on 31st December each year and on maturity.  Deposits are also allowed up to the maximum account balance while the product is still available.