Raphaels Bank has reduced the rate paid on its 60-month fixed bond by 0.15%; however, this hasn't dented its competitiveness in the market and it has retained its 'excellent' rating as a result.
The 60-month version of Fixed Rate Bond now pays a competitive yearly rate of 2.20%.
This deal can be opened and operated in branch and by post with an initial investment of at least £5,000.
Savers will need to ensure that they are happy with their investment and the length of the term from the beginning as this deal does not allow either additions or early access to funds.
The rate paid on this account may have dipped slightly, but it continues to pay an attractive return. As a result, it fully deserves its 'excellent' rating and will continue to appeal to those who are happy to lock 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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.