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Fanfare for Wesleyan fixed rate bonds

Fanfare for Wesleyan fixed rate bonds

Category: Savings

Updated: 04/04/2011
First Published: 15/09/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Wesleyan Bank has returned to the fixed rate savings market to rapturous applause.

Its one year fixed rate bond pays 3.00% and its four year bond pays 4.25%, high enough to make both market leading rates.

The two, three and five year deals are also fairly competitive in paying 3.50%, 4.00% and 4.50% respectively.

Being internet operated accounts, the bonds will be ideal for savers happy to manage their finances online.

That all the bonds permit early access to funds on the loss of 180 days' of interest will be seen as a plus, particularly on the longer term deals.

With cash ISA versions of the bonds also available over each of the terms specified, albeit with lower rates, four out of five Moneyfacts stars is the fanfare that Wesleyan deserves.

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