Question about bonds

Mr_D.

Hi,
I am just about to close a nationwide savings account as the bonus comes to an end, and will probably open a 2yr Halifax on line account but notice this is classed as a bond,--with all the uncertainty around I just wandered if this is as safe as an account that does not state that it is a bond (not knowing the difference)--and would i still be covered by thr FSA,----thankyou.

calypso_rhapsody

The word bond can be confusing - i suspect that what you are looking at is a fixed term savings account which has the word 'bond' attached to it but is not a 'bond' in the same sense as a corporate bond. But looking at the Halifax website i don't see the word bond jumping out at me ...
the fixed on-line saver account? Savings accounts are covered by FSCS but true corporate bonds are not.

If that is the account you are looking at, you might like to shop around as i think you can get about half a percent better rate for a 2 year savings account .... use the link at the top of the page!

Mr_D.

Hi---yes it was the 2 yr fixed bond I was refering to,---thanks.

Ifts

Close Brothers Saving are offering 4.25% AER on their 2 year fixed term fixed rate account (Min deposit:£10,000).

Link: http://www.closesavings.co.uk/accounts/premium-gold-1/

Close Brothers are members of the Financial Services Compensation Scheme ('FSCS'). Individual savers funds are protected up to £85,000 per institution