Vanquis Bank has reduced selected fixed rate bonds, but its three and five-year deals have retained their coveted places in the Moneyfacts charts.
The three-year version of Vanquis Bank High Yield now pays 2.44% yearly (2.41% monthly) while its five-year counterpart pays a yearly rate of 2.90% (2.86% monthly), allowing both to maintain their places in the charts.
These accounts must be opened and operated online with an initial investment of at least £1,000. Access is via a nominated account.
Neither account allows additional deposits or early access to funds, so savers must ensure that they are satisfied with their initial investment and are happy to lock their money away for the full length of their chosen term.
These deals may have had a slight rate decrease, but they are still competitive offerings that boast attractive rates. The option of monthly interest also adds a welcome degree of flexibility and will appeal to those who are looking to secure a regular income. However, the lack of early access means that these accounts will best suit those who are happy to lock their money away.
Moneyfacts rating: Excellent
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