United Trust Bank has increased the rates of its one-year and 18-month fixed bonds by up to 0.15%, pushing both to the very top of the Moneyfacts charts.
UTB 1 Year Bond now pays 2.05% on maturity, allowing it to take the top spot in its sector. Meanwhile, its 18-month counterpart pays the same rate of 2.05% yearly, which also allows it to assume a market-leading position among its peers.
Both accounts can be opened online or by post and then operated by post or in branch. An initial deposit of at least £500 is required.
As with many fixed rate deals, neither account allows savers to contribute additional funds or to access money prior to maturity. Savers must therefore be comfortable with their initial investment and the length of their chosen term from the start.
The rate increase gifted to both of these accounts has secured them positions as the current market-leaders in their respective sectors. As a result, they are likely to be very popular, although the lack of flexibility does mean that their appeal will be strongest for those who are happy to lock their money away.
Moneyfacts rating: Excellent
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