Fixed bond maintains chart place | Product News - Moneyfacts

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Fixed bond maintains chart place

Fixed bond maintains chart place

Category: Savings
Date: 29/03/2016

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 It is now over 6 months old so the content may be out of date.

Ikano Bank has reduced the rates paid on selected fixed bonds by up to 0.10%, but despite this, its three-year deal has managed to maintain its position in the Moneyfacts charts thanks to its enduring appeal.

The basics…

Fixed 3 Year Saver now pays 2.25% yearly (2.23% monthly), ensuring its continued place among the top 10 accounts of its sector.

The finer details…

This internet-operated account requires a minimum investment of at least £1,000, although it permits further additions for up to 14 days from account opening. As is common in the fixed sector, there's no flexibility for earlier access to funds, so savers will need to be comfortable with the three-year term from the outset.

It should be noted that Ikano Bank operates under the Swedish compensation scheme.

Why we like it…

This account may have seen its rate reduced slightly, but it's managed to maintain its comfortable chart position thanks to its still-competitive returns. The ability to add to funds for a limited period will be seen as a plus, as will the flexibility of earning interest monthly, making it a great choice for those who wish to supplement their income.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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