Milestone Savings has increased the rate paid on its five-year fixed bond by 0.20%, catapulting it right to the top of the Moneyfacts charts as a result.
The five-year version of Fixed Term Deposit now pays an expected profit rate of 3.20% yearly, the top rate in its sector.
This Sharia'a compliant account must be opened online but can then be operated online, by post and by phone. Access is via a nominated account.
As is common in the fixed rate sector, no further additions or early access to funds are allowed. Savers must therefore ensure that they are happy with the amount they invest and the length of the term from the beginning.
By boosting the rate significantly this deal has been able to establish itself as a market-leader, something that is certain catch the attention of eager savers. As a result, this deal fully merits its 'excellent' rating.
Moneyfacts rating: Excellent
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