1 & 2-yr bonds make their mark | Product News - Moneyfacts

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1 & 2-yr bonds make their mark

1 & 2-yr bonds make their mark

Category: Savings
Date: 27/07/2015

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 It is now over 6 months old so the content may be out of date.

RCI Bank UK has unleashed two highly competitive fixed rate bonds onto the market, both of which have secured prized places on the Moneyfacts charts.

The basics…

Fixed Term (2 Year) pays a market-leading 2.35% yearly (2.33% monthly), enabling it to take the top spot on the charts. Meanwhile, its one-year counterpart pays a yearly rate of 2.06% (2.04% monthly) to take a comfortable place among the top 10 accounts of its sector.

The finer details…

These accounts must be opened online with an initial deposit of at least £1,000. They can then be managed online or by phone.

Savers have the flexibility to make further additions for up to 30 days after the accounts have been opened, but access to funds prior to maturity is not allowed. Savers must therefore be comfortable locking their money away for the respective terms.

Why we like them…

These newcomers onto the scene are likely to attract a lot of attention thanks to their competitive rates, with the two-year variant proving to be particularly competitive. The fact that these accounts allow further additions (albeit for a limited period) and have a monthly interest option adds a degree of welcome flexibility. However, the absence of early access means that savers must be happy to tie up their money for the full length of their chosen term.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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