A best-buy one-year bond from Yorkshire Building Society has been snapped up by online savers, it has been revealed.
The online bond, which was introduced in June, offers 3.5% gross/AER giving customers greater choice in short-term investments.
Since its introduction last month "business has been brisk", according to Yorkshire's savings product manager Mike Helliwell.
"We knew that customers were interested in shorter term investments because of speculation about a rise in the Bank of England base rate but this bond is proving exceptionally popular.
"With a minimum balance of £1,000, savers can get a best buy rate and keep their options open about what to do with their cash in a year's time."
A maximum of £2,000,000 can be invested in Yorkshire's bond.
The one year bond is complemented by an 18 month bond, offering a competitive 3.6% gross/AER, which matures in February 2013.
