Shawbrook Bank has increased selected fixed rates by up to 0.30%, enabling its three-year deal to edge comfortably into the Moneyfacts charts.
3 Year Fixed Rate Bond Issue 29 now pays a competitive rate of 2.40% yearly, earning it a place among the top 10 accounts of its sector.
This account can be opened by post or online, and then managed in the same way as well as by phone. A minimum investment of £5,000 is required.
Additional deposits can be made while the issue remains open, but early access to funds is not permitted. Savers must therefore be happy to lock their money away for the full three-year term.
The rate increase to this account has boosted its competitiveness, allowing it to steal a place on the charts. Savers are likely to welcome this attractive new rate, but they must still bear in mind the fact that they will need to lock their money away, as no access prior to maturity is permitted.
Moneyfacts rating: Excellent
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