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Al Rayan revamps fixed bonds

Al Rayan revamps fixed bonds

Category: Savings
Date: 24/08/2017

Al Rayan Bank has revamped several of its fixed bonds, changing rates by up to 0.16%, which sees its one-year deal stay in the Best Buys, while the two and three-year deals climb to the top of their charts. All earn a high rating in the process.

The basics…

The one-year Fixed Term Deposit now boasts a rate of 1.91% (1.90% gross), paid quarterly, while the two-year equivalent pays a market-leading 2.22% (2.20% gross) and the three-year pays 2.32% (2.30% gross), another market-leader.

The finer details…

The accounts require a minimum investment of £1,000. They do not allow additions or early access, so savers will have to ensure they are happy to part with their funds for the whole of the chosen term. The accounts can be opened and operated by phone, post, in branch and online. They are Sharia'a compliant, which means the rates represent the expected profit rate.

Why we like them…

The decent one-year rate and market-leading other rates are more than enough to see these bonds take their respective high and number one spots in the Best Buy charts and earn a high rating.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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