The Beverley has once again stepped forward to support savers with the launch of our new Fixed Rate Bond Issue 02.
The new account, offering an attractive rate of 0.75% gross, AER, fixed for two years from opening, for deposits of £5,000 and over, compares well to other offerings currently available. It is the latest example of how the Society is reaching out to support both borrowers and savers in ways other, bigger institutions, aren’t.
As one of the UK’s longest-established mutuals, supporting our savers is central to our ethos and this latest product launch follows our decision, two years ago, to go against the tide and pass on the full Bank of England Base Rate increase of 0.25% to all our savers.
And the money savers invest in the new Bond will go directly out to our mortgage customers, who we are also helping out with fixed rate mortgage products, with deposits as low as 15 per cent.
The Society’s Chief Executive, Karl Elliott, explained: “Our whole ethos is built around trying to help borrowers and savers in the best – and worst – of times.
“The new Bond is the latest example of what we are doing for savers. And, because we have a very simple business model, the money savers place with us will go directly out to borrowers who are looking for the payment certainty of fixed rate mortgages at the moment.
“We understand that, given everything that’s going on currently, both borrowers and savers are looking for added peace of mind at the present time. So, hopefully this latest product is a win win.”
*AER stands for annual equivalent rate
**This is a limited edition product and the amount we can have in this type of account at a given time is capped. This means that we might have to withdraw this edition of the Fixed Rate Bond at short notice, so it is important to let us know if you would like to reserve yourself an account, by contacting us as outlined below.