OakNorth Bank has significantly increased the rates of selected fixed bonds by up to 0.20%, enabling its 15 and 30-month deals to take prized positions in the Moneyfacts charts.
The 15-month version of Fixed Term Deposit now pays 2.02% on maturity while its 30-month counterpart pays 2.30%, both of which are market-leading rates for their terms.
The finer details…
Both of these accounts must be opened online with a minimum deposit of £1,000. They can then be managed by post, by phone and online.
As is to be expected in the fixed rate market, neither bond allows further additions or early access to funds. Savers must therefore ensure that they are comfortable with their investment and the length of their chosen bond before committing.
Why we like them…
The significant size of the rate rises to these bonds has enabled them to become highly competitive, something that is sure to be noticed by savers. Both pay market-leading rates for their terms and have also been awarded with well-deserved places in the charts as a result.
Moneyfacts rating: Excellent
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