There will be an option to receive monthly interest. Additional investments may be made into the bond as long as the issue remains open to new investors, provided the total investment with the Society does not exceed £400,000.
Marketing manager at The Mansfield Building Society, Mike Taylor, said:
“The new fixed rate bond has a Gross/AER rate of 5.00 per cent, giving savers a guaranteed gross return that is ten times that of the current Bank Base Rate of 0.5 per cent. This product is ideal for those who want to invest for a five year period.
“In these turbulent economic times, we want to provide investors with guaranteed, competitive returns and this product also gives savers the peace of mind that their investment is secure.”
