Shawbrook Bank has reduced the rates of selected fixed rate bonds, but nevertheless its three-year deal has kept its competitive edge and retained a place in the Moneyfacts charts.
3 Year Fixed Rate Bond Issue 24 now has a competitive rate of 2.35% per annum, allowing it to stay in the top 10 of its sector.
Meanwhile, the four-year version (issue 8) has a new yearly rate of 2.60% and the five-year variant (issue 17) has a rate of 2.80% yearly.
These accounts can be opened by post and online and operated via the same means as well as by phone. A minimum investment of £5,000 is required.
Further additions are permitted while the issues remain open, but early access to funds is not allowed. Savers must therefore be comfortable with the length of their chosen term.
Although rates have been reduced slightly, the three-year deal remains an attractive offer. The rate is still competitive and the option to make further additions while the issue remains open adds to the appeal. However, like many fixed rate accounts it is not possible to access funds prior to maturity, which means savers must think carefully about how much they lock away.
Four Moneyfacts Stars have been awarded.
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