Charter Savings Bank has increased the rate of its two-year fixed bond by 0.16%, securing it a coveted position on the Moneyfacts charts.
The two-year version of Fixed Rate Bond now pays a competitive rate of 2.16% yearly (2.14% monthly), which allows it to sit very comfortably among the top 10 accounts of its sector.
This account must be opened and operated online with an initial investment of at least £1,000.
Further additions are permitted in the first 14 days after the account has been opened, giving savers the chance to boost their savings pot. However, early access to funds is not permitted, so savers must be prepared to lock away their money for the full length of the two-year term.
The rate increase to this account has reinforced it's competitiveness in the market. It also stands out thanks to its additional flexibilities – the choice of a monthly interest option will appeal to those looking to secure a regular income while the ability to add extra funds for up to 14 days gives savers time to consider the size of their investment. However, the lack of early access does mean that this deal will only suit those who are comfortable locking their money away.
Moneyfacts rating: Excellent
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