YORKSHIRE Building Society has launched three new fixed rate savings bonds.

A one-year bond offers 3.75 per cent gross per annum; a two-year bond 4.00 per cent and a three-year bond 4.15 per cent.

The two and three-year bonds are available for a limited period and, as the 4.15 per cent rate is currently the highest available for a three-year fixed rate bond, it is likely that demand will be high.

The one-year bond is Yorkshire’s popular Rollover Bond, where interest is set on the first day of the month and is fixed for the following year. At the end of the year, if they wish, savers can allow the money to rollover into a new one-year fixed rate Rollover Bond, with a new competitive fixed rate of interest. This is in contrast to a number of other providers who transfer investors’ money into low interest accounts when their bonds mature.

The minimum balance on all Yorkshire’s savings bonds is £100 and there is also a monthly interest option available on all these bonds for investors who rely on their savings for income.

Tanya Mills, of the society, said: “Feedback from our members shows there is currently demand for medium term savings bonds as well as our short term Rollover Bond. These new products should meet our members’ needs and offer all savers great choice with an excellent rate of return.”