Base Rate Tracker Savings Bonds

ETF65

I've been looking at a 3 year savings bond at National Counties Building Society which tracks the Bank of England bank rate plus 2.10% so is currently paying 2.6%. Also more or less the same bond at United Trust Bank.

Are there any drawbacks to be aware of with these and also does anyone know of any similar ones (2 to 3 years) out there worth looking at?

Thanks

jimjames

Presumably you've already filled up the current accounts that pay up to 5%?
If you don't need access to the money, does it all need to be in cash? If income is important then you should be able to get more from investing at least part of it.
This thread gives an idea of how income from investments work
https://forums.moneysavingexpert.com/discussion/5336097

ratechaser

I personally like these products, but only in a very niche way because they can be used to place any spare funds in a tracker mortgage, i.e. you can be sure you're getting a fixed relative return over the term, and ultimately it's 'free' money without any significant risk.

Anyway, good to see that they are still being offered...