After carrying out a review, Bank of Cyprus UK has made slight reductions to its fixed bond rates. However, the two-year deal still has a highly competitive rate and has held onto its top 10 place in the Moneyfacts charts.
The two-year Bank of Cyprus UK Bond now has a rival-beating rate of 2.10% per annum while the three-year variant pays 2.35% yearly.
Both accounts need a minimum investment of £1,000 and can be opened and operated by phone, post, in branch or online.
Like many fixed rate bonds, neither account allows early access to funds. Further additions are also not permitted. Investors must therefore be comfortable with the length of the terms and the amount invested from the outset.
The two-year bond still possesses a highly attractive rate that is likely to be very appealing to investors. However, savers must be willing to lock their money away for the full term as there is no option to access their money before the term expires.
Four Moneyfacts Stars have been awarded.
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