Paragon Bank has reduced the rate paid on its three-year fixed bond, but this has failed to dent its competitiveness, enabling it to retain its chart position.
Three Year Fixed Rate now pays 2.20% yearly (2.18% monthly), which means it remains among the top 10 accounts of its sector.
This account must be opened and operated online with a minimum investment of £1,000. Savers should note that access is via a nominated account.
Savers are permitted to make additional withdrawals for up to five days after an account has been opened, but early access to funds is not allowed. Savers must therefore be prepared to lock their money away for the full length of the three-year term.
The rate paid on this account may have been reduced slightly, but this deal still has plenty of appeal. Savers are likely to appreciate the monthly interest option and the flexibility afforded by the five-day period for further additions, which means that this deal can comfortably hold on to a place in the charts.
Moneyfacts rating: Excellent
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