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Bonds from Harrods Bank storm charts

Bonds from Harrods Bank storm charts

Category: Savings
Date: 06/01/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Harrods Bank has added to its savings offerings with a range of new fixed rate accounts, all of which have sped into the top 10 of the Moneyfacts charts.

The basics…

18 Month Fixed Rate Deposit has a highly competitive rate of 1.95% yearly, allowing it to sit just behind the market-leader of its sector.

Meanwhile, the two-year variant has a rate of 2.25% per annum and the three-year version has a yearly rate of 2.50%, earning them both places among the top 10 in their respective sectors.

The finer details…

These accounts can be opened by branch and post and managed in the same way, as well as by phone. A minimum deposit of £20,000 is required.

Like many fixed rate deals, these accounts do not allow further additions or early access to funds, so savers must be comfortable with the amount they invest and the length of their chosen term.

A Call Deposit account is automatically opened for transactional purposes when investing in one of these bonds.

Why we like them…

These bonds are sure to entice eager savers with their attractive rates and top 10 statuses. The 18-month bond is particularly competitive with a rate that enables it to sit just behind the market-leader of its sector. However, savers must remember that there is no option to add to invested funds or withdraw money before the bonds mature, so they must ensure that they are happy with their investment from the start.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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