Charter Savings Bank has stormed into the savings market with a range of competitive variable and fixed rate accounts, two of which (a 95-day notice deal and a one-year fixed rate bond) have gone straight into the Moneyfacts charts.
The one-year variant of Fixed Rate Bond pays a competitive yearly rate of 1.80% (1.79% monthly), allowing it to sit comfortably among the Moneyfacts best buys. Meanwhile, 95 Day Notice Issue 1 pays a very attractive rate of 1.75% yearly (1.74% monthly), a leading rate among accounts of the same term.
The finer details…
Both accounts must be opened and operated online with a minimum investment of £1,000.
The one-year bond allows further additions within the first 14 days after the account opens, but early access is not permitted. Savers must therefore be comfortable with the length of the one-year term.
The notice account allows unlimited withdrawals and further additions, which gives savers some welcome flexibility. However, early access is not possible, so all withdrawals will need 95 days' notice. Savers must therefore plan their withdrawals carefully.
Why we like them…
Both of these accounts offer savers enticing rates, which are sure to grab attention. They also allow savers to choose a monthly interest option, which will be ideal for those who want to secure a regular income. It is also possible to make further additions with both accounts, which gives savers an additional layer of flexibility.
Moneyfacts rating: Excellent
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