Fixed bonds don’t budge from charts | Product News - Moneyfacts

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Fixed bonds don’t budge from charts

Fixed bonds don’t budge from charts

Category: Savings
Date: 17/02/2016

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 It is now over 6 months old so the content may be out of date.

Paragon Bank has reduced the rates paid on selected fixed rate bonds by up to 0.25%, but despite this, two and five-year deals have shown their resilience by retaining their chart positions.

The basics…

Two Year Fixed Rate now pays a competitive rate of 2.00% yearly (1.98% monthly), while its five-year counterpart pays 2.75% yearly (2.72% monthly), enabling both to remain among the top 10 accounts of their respective sectors.

The finer details…

Both of these accounts must be opened and operated online with access via a nominated account. An initial deposit of at least £1,000 is required.

Unusually, additional deposits are permitted for up to five days after an account has been opened, but savers should be aware that there is no early access prior to maturity, meaning they must be prepared to lock their money away for the entirety of their chosen term.

Why we like them…

Internet investors on the prowl for a good deal are likely to pay attention to these deals thanks to their competitive rates and the option of earning monthly interest. The fact that further additions are also permitted, albeit for a limited time, is another appealing feature that further boosts the attraction of these bonds.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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