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Competitive saving with Shawbrook Bank

Competitive saving with Shawbrook Bank

Category: Savings
Date: 08/07/2014

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 It is now over 6 months old so the content may be out of date.

Shawbrook Bank has reviewed its savings range and increased rates on selected products by up to 0.20%, making several market-leaders for their terms.

The basics…

In the fixed rate sector, the standout products are the three and five-year fixed rate bonds. 3 Year Issue 20 now pays 2.75% yearly (the top rate in its sector), while 5 Year Issue 15 pays 3.20% yearly, both on a minimum investment of £5,000.

Or, for savers wanting access to their cash – subject to a notice period – the 120 Day Notice Personal Savings Issue 16 pays 1.90% yearly (another top rate) from a minimum £1,000 deposit.

The finer details…

As is common in the fixed market, neither bond allows withdrawals or earlier access, so savers will need to be comfortable locking their money away for the term. The notice account permits withdrawals subject to the required 120 days' notice being given, but no earlier access will be allowed.

Further additions are permitted on all accounts while the respective issues remain open, and all can be managed via the internet, phone or post.

Why we like them…

Shawbrook's review sees all three standout products pay top five rates with two of them topping the charts, offering highly competitive options for savers of all kinds.

Four Moneyfacts Stars have been awarded.

What next?

Find the best fixed rate bond.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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