1-yr bond holds on to chart place | Product News - Moneyfacts

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1-yr bond holds on to chart place

1-yr bond holds on to chart place

Category: Savings
Date: 26/05/2015

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 It is now over 6 months old so the content may be out of date.

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.

The basics…

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.

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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