Monmouthshire Building Society has issued a range of cash saving bonds.
The building society has launched a six month bond with a rate of 0.95 per cent, a one year bond which pays an interest rate of 1.15 per cent, and a two year bond paying a rate of 1.7 per cent.
The minimum investment required on the six month bond is £1,000, while the minimum investment on the one and two year bonds is £5,000, with a maximum investment of £500,000 on all of the products.
Dan Goulding, product development manager at Monmouthshire Building Society, said: "We are excited to launch this trio of cash saving bonds, which offer competitive interest rates and a choice of saving periods.
"I am sure they will appeal to savers seeking an attractive return on a cash lump sum over the next 6 to 24 months."
Advisers can access the bonds on behalf of their clients either online or through a branch of the building society.
But Paul Gibson, an adviser at Granite Financial Planning in Aberdeen, reacted with some criticism to the new products.
He said: "The rates on offer are not market leading and anyone with an internet connection should be able to source better rates with adequate FSCS protection.
"With interest rates still being relatively low it is worth the effort of doing some research to obtain the highest rate available."
david.thorpe@ft.com
