The Co-op unveils one-year wonder - Savings - News - Moneyfacts


The Co-op unveils one-year wonder

The Co-op unveils one-year wonder

Category: Savings

Updated: 19/02/2013
First Published: 19/02/2013

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 It is now over 6 months old so the content may be out of date.

The Co-operative Bank has increased its Fixed Term Deposit rate by 0.69%, pushing it to the top of the one-year fixed-rate bond market.

The basics…

This deal pays a market-leading rate of 2.31% on maturity and requires a minimum investment of £1,000.

The finer details….

Further additions and early access to funds are not permitted.

The account can be operated in branch, by post, telephone or online by savers aged 16 and over.

Why we like it….

Savers looking for a highly competitive short-term bond will be pleased with The Co-op's decision to boost the rate on its existing Fixed Term Deposit deal. Four out of five Moneyfacts Stars have been awarded.

What next?

Compare the best savings rates
1 year fixed rate bonds
2 year fixed rate bonds
3 year fixed rate bonds
4 & 5 year fixed rate bonds

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.

Less than half of savings accounts beat inflation

Official figures show that inflation jumped up during September, with CPI rising to 1%. Not only does this mean that consumers may begin to feel the impact on their wallets, but there are now far fewer savings accounts that will beat inflation.

Number of savings accounts falls to record low

As if the continued drop in savings rates wasn’t bad enough, our latest research reveals another blow to already hard-pressed savers, with the number of accounts available having fallen to a record low.