Fixed bonds keep their hold on the charts | Product News - Moneyfacts

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Fixed bonds keep their hold on the charts

Fixed bonds keep their hold on the charts

Category: Savings
Date: 11/04/2016

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 It is now over 6 months old so the content may be out of date.

Union Bank of India (UK) Ltd has reduced the rates paid on its fixed bonds by up to 0.30%. Nevertheless, its one, two, three, four and five-year deals have been able to keep their prized chart places thanks to their continued appeal.

The basics…

The one-year version of Term Deposit now pays a competitive rate of 1.90% on maturity, while its two, three, four and five-year counterparts pays respective rates of 2.15%, 2.40%, 2.50% and 2.70% on maturity, enabling all to keep their places in the charts.

The finer details…

These accounts can be opened in branch and by post and then managed in the same way as well as by phone. An initial deposit of at least £1,000 is required.

Further additions cannot be made once an account is open, while early closure is only possible with the bank's discretion and upon payment of a penalty.

Why we like them…

These accounts may have had their rates cut, but this has not led to the loss of their prestigious places in the charts. Indeed, savers who are looking for a competitive account to lock their money away in over a short or long term will continue to find these bonds appealing thanks to their continued attractive returns.


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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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