Furness Building Society Tops Market With New Savings Products

Furness Building Society has launched two highly competitive savings accounts, including a Five-Year Fixed Rate Cash ISA with a 4.91% interest rate. 

Together with a new Five-Year Savings Bond, savers have more options to secure their savings and achieve their long-term goals with a guaranteed, market-leading fixed rate. 

Both accounts can be opened with a minimum deposit of £1,000, either online, via the Furness Savings app, in branch or by post. With 4.91% interest fixed, a deposit of £1,000 would generate a maturity balance of £1,049.10 after 12 months and £1,270.82 after the full five-year period. 

Available to account holders over the age of 18, customers who already have an ISA with another provider can transfer existing funds into the new ISA account upon opening without affecting this year’s allowance and maintaining their tax-free savings status. 

Customers looking to save in the Five-Year Savings Bond can deposit up to £250,000, and up to £500,000 for joint account holders, within 14 days of opening the account. 

The new products form part of Furness Building Society’s competitive savings portfolio, which includes one, two and five-year monthly income bonds, continuing its commitment to providing savings options that reflect the changing needs of its members. 

Liam Williamson, Head of Savings at Furness Building Society, commented: “We remain committed to offering consistently competitive rates that help our members get the most out of their savings. The five-year fixed rate ISA and Bond add to our extensive product portfolio, providing more ways to save and enabling our members to confidently choose the best option to suit their long-term financial goals.”