Family BS unveils ‘Brexit bond’ for leavers and remainers

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The Family Building Society has launched a ‘Brexit bond’ that offers different savings options to both Brexit leavers and remainers.

The product is a fixed term savings bond with a fixed interest rate of 1 per cent a year, plus a potential 2 per cent bonus at the end of the fixed term.

The bonus depends on the change to the Pound to Euro exchange rate between 28 March 2017 – the day before Article 50 was triggered -and 29 March 2019, when the UK is due to exit the European Union.

The bond matures on 2 May 2019.

Family Building Society director of business development Keith Barber says: “This is a unique opportunity for savers to vote with their wallet on their view of the post-Brexit landscape. Are hard pressed savers reaching for their sunglasses or looking for their raincoat?

“Irrespective of how savers voted in the referendum in June 2016, they now have a further opportunity to express their views of Brexit and how it may benefit their savings.”