Fixed Rate Bond over £50,000

SweetnSavvy

Last year I invested £100,000 in a fixed rate bond with Alliance & Leicester which matures on 30th June 2009.
Q1) Are these the same as savings and only the first £50,000 protected?
Q2) Can I cash it in (and I assume lose the interest) or am I locked in.

I'm glad we sold the house last year but what to do with the money is a real problem!!!!!

YorkshireBoy

1. Yes, but per customer. Is the "fixed rate bond" held in sole or joint names?

2. Depends on your T&C's. Have you checked them?

dunstonh

Q1) Are these the same as savings and only the first £50,000 protected?

Its not actually a bond or an investment. It is a fixed term deposit and is protected under the deposit scheme.