Five-year bond maintains chart place | Product News - Moneyfacts

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Five-year bond maintains chart place

Five-year bond maintains chart place

Category: Savings
Date: 01/07/2016

Milestone Savings has reduced the rates paid on its fixed rate bonds by as much as 0.35%, but despite this, the five-year version manages to maintain its hold on the Moneyfacts charts thanks to its enduring appeal.

The basics…

The five-year version of Fixed Term Deposit now pays an expected profit rate of 2.25% yearly, which ensures its continued place among the top 10 accounts of its sector.

The finer details…

This Sharia'a compliant account must be opened online, but it can then be managed in the same way as well as by post or phone. It requires a hefty minimum investment of £10,000, and as is common in the sector, further additions and withdrawals won't be allowed, so savers must be comfortable with their investment and the term of the bond from the outset.

Why we like it…

Despite receiving a rate cut, this five-year bond has managed to maintain its best buy status thanks to its still-competitive returns, making it an appealing option for those with the necessary deposit.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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