United Bank UK has slightly reduced the rate of its one-year bond; however, it has maintained its competitiveness and kept a place in the Moneyfacts charts.
1 Year Fixed Term Deposit now pays 1.80% on maturity (1.79% monthly), allowing it to sit comfortably among the top 10 accounts of its sector.
This account can be opened in branch, by post and online and then operated in the same way except online. A minimum investment of £2,000 is required.
Like many fixed rate deals, this account does not allow further additions. However, it is possible to access funds early with the manager's discretion, which will lead to closure of the account and the loss of 90 days' interest.
This deal is also available as a business account at a slightly reduced rate.
This account may have had a slight reduction of 0.11%, but it remains a strong competitor. Savers are likely to welcome the option of monthly interest and the possibility of accessing funds prior to maturity, albeit upon closure of the account and a loss of interest. Nevertheless, this deal still offers a competitive rate and a degree of flexibility that will continue to appeal to savers.
Moneyfacts rating: Excellent
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