Bank/Building Society Bonds
A bank or building society fixed rate bond is a type of deposit account where the interest rate is fixed for specific amount of time, typically 1-5 years. At the end of the term, you will receive the capital plus interest. A fixed rate bond will normally offer a higher rate of interest than an instant access account, however your money is tied-in for the agreed period. A tracker bond will track a certain index, for example inflation, over a set period of time.
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