Britannia Building Society has launched an "Inflation Beater 2-year Bond" which  guarantees an interest rate higher than the rate of inflation.

The interest is adjusted each month to beat the rate of inflation - currently 5%, according to the Retail Price Index (RPI) - plus an extra 1.75% gross.

The minimum investment amount of £1,000 and  the maximum is £1 million. Withdrawals and additional investments are not allowed on the account during the two-year term.  

Tim Franklin, Managing Director of Member Business, said: "This latest bond gives savers another option to guarantee their savings are beating the rate of inflation for the next two years."  

The bond will mature on its second anniversary, when the investments will transfer to another account linked to RPI, but which will allow additional investments and withdrawals.  

Savers looking for more information should visit their local Britannia branch, click on www.britannia.co.uk or call 0800 132 304.

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