Birmingham offers 5.32% a year on three bond offerings

Birmingham Midshires has launched three fixed rate bonds, with terms of one, two and three years, al...

Birmingham Midshires has launched three fixed rate bonds, with terms of one, two and three years, all paying annual gross interest of 5.45%. The products are being targeted at monthly income seekers, who will receive 5.32% net, who want certainty over the level of interest to expect each month. Richard Brown, company marketing manager, said: "The bonds offer savers the opportunity to fix their interest at more than 1% above the existing base bank rate." Net interest, paid annually, is 4.36% or 4.26% for those who take it monthly. Rates on the group's four and five-year fixed rate bonds...