5 and 7-yr bonds leap into the top 10 | Product News - Moneyfacts

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5 and 7-yr bonds leap into the top 10

5 and 7-yr bonds leap into the top 10

Category: Savings
Date: 27/02/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Secure Trust Bank has re-launched its popular five and seven-year fixed rate bonds, both of which have leapt straight into the Moneyfacts charts for their attractive terms.

The basics…

Fixed Rate Bond 5 Year Term (Series 16) has an attractive rate of 2.96% per annum until 28.2.20, allowing it to sit comfortably in the top 10 of its sector. Meanwhile, its seven-year equivalent (series 15) has a yearly rate of 3.11% until 28.2.22, which also allows it to sit near the top of the leaderboard.

The finer details…

Both accounts must be opened online and then operated by either post or phone. A minimum investment of £1,000 is required.

Further additions can be made while the issues remain open, giving savers a degree of flexibility. However, early access to funds is not permitted, so savers must ensure that they are comfortable with the length of their chosen term.

Both bonds are also available for non-personal use as business bonds.

Why we like them…

Both of these accounts offer savers enticing rates, which is sure to gain them popularity. The additional flexibility of being allowed to add extra funds while the issues remain open is an added bonus, and makes these two accounts stand out from their competitors in the fixed rate market. However, early access is still not allowed, so savers must ensure that they are happy locking their money away.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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