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.
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.
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.
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
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