Ikano Bank has reduced the rate paid on its three-year fixed rate bond; however, its continued competitiveness has enabled it to retain its prized place on the Moneyfacts charts.
Fixed 3 Year Saver now pays 2.45% yearly (2.42% monthly), a competitive rate that allows it to remain among the top 10 accounts of its sector.
This internet-operated account requires an initial investment of at least £1,000. Savers are welcome to make additional deposits for up to 14 days after the account has been opened, but early access prior to maturity is not permitted. Interested savers must therefore ensure that they are comfortable with the length of the term.
The rate reduction has not dented this account's competitiveness; it still holds a top-10 place and also boasts an appealing monthly interest option, which will strike a chord with those who are looking to secure a regular income. The fact that further additions are also permitted for a limited period adds some extra shine.
Moneyfacts rating: Excellent
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