Raphaels Bank has reduced the rate paid on its 60-month fixed bond; however, this has not led to its removal from the charts and it remains a competitive and eye-catching deal.
The 60-month version of Fixed Rate Bond now pays 2.60% yearly, which enables it to continue to sit comfortably among the top 10 accounts of its sector.
This account can be opened and operated in branch and by post with an initial investment of at least £5,000.
As is common in the fixed rate market, neither additions nor early access to funds will be permitted. Savers must therefore be confident in their investment, as they'll need to keep it locked away.
Savers who are looking for a longer-term home for their money are likely to pay attention to this deal, particularly as it continues to pay a top-10 rate. Provided savers are happy to lock their money away, this account could be a good home for their savings pot.
Moneyfacts rating: Excellent
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