Aldermore has reviewed its fixed rate savings accounts and reduced selected bonds. However, its five-year offering has kept its competitive spirit and retained a place in the Moneyfacts charts.
The basics… 5 Year Fixed Rate Account now has a rival-beating rate of 2.90% yearly (2.86% monthly), earning it a place among the top 10 of its sector.
Meanwhile, the two-year version has a yearly rate of 2.00% (1.98% monthly).
The finer details… These accounts can be opened and operated by post, phone and online with a minimum deposit of £1,000.
As is common among fixed bonds, these accounts do not allow further additions once open and early access to funds is also not allowed. Savers must therefore think carefully about how much they would like to invest and ensure that they are comfortable with the length of their chosen term.
Why we like them…
Despite the reduction, the five-year deal is still a good catch for savers, promising decent returns on an investment. While there is no option to add more money or to access funds early, the offer of a competitive rate is likely to still attract eager investors.
Four Moneyfacts Stars have been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
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