Paragon Bank has reduced the rate paid on its two-year fixed rate bond, but despite this, it has retained its place on the Moneyfacts charts thanks to its ongoing competitiveness.
The basics… Two Year Fixed Rate now pays 2.30% yearly (2.28% monthly), enabling it to remain among the top 10 accounts of its sector.
The finer details…This account must be opened and operated online with an initial investment of at least £1,000. Savers should note that access is via a nominated account.
Further additions are permitted for up to five days after the account has been opened, but early access to funds is not possible. Savers must therefore be confident about investing their money for the entirety of the two-year term.
Why we like it…
Savers looking for a two-year home for their hard-earned savings are likely to pay attention to this deal, which continues to boast an attractive rate. The fact that it also offers a monthly interest option adds to its appeal, and gives savers the flexibility to choose a regular income if desired.
Moneyfacts rating: Excellent
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