Milestone Savings has increased the rate of its two-year bond by 0.10%, catapulting it into the top 10 of its sector.
The two-year version of Fixed Term Deposit now pays an indicative profit rate of 2.10% yearly, earning it a coveted place on the Moneyfacts charts.
This Sharia'a compliant account must be opened online but it can then be operated by post, by phone and online. An initial deposit of at least £10,000 is required. Savers should note that access is via a nominated account.
No further additions or early access is permitted, so savers should ensure that they are happy with their initial deposit and the length of the two-year term.
The rate boost to this account has revived its competitiveness and secured it a place on the Moneyfacts charts. As a result, it is likely to prove popular among savers with a decent-sized savings pot to invest. However, the lack of early access means that savers must be happy locking their money away for the full term.
Moneyfacts rating: Excellent
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