Milestone Savings has given selected fixed rate bonds an impressive rate boost of up to 0.40%, enabling its one, two, three and five-year deals to move towards the top of their respective sectors.
The one-year version of Fixed Term Deposit now pays an indicative profit rate of 2.10% on maturity, a market-leading rate. Meanwhile, its two-year counterpart now pays 2.35% yearly, the three-year version pays 2.65% yearly and the five-year variant pays 3.00% yearly, all rates that allow them sit just behind their respective sectors' market-leaders.
The finer details…
These Sharia'a compliant bonds must be opened online with a minimum deposit of £10,000. They can then be managed by post, by phone and online, with access via a nominated account.
As is common in the fixed rate market, no additions or early access to funds are permitted. Savers must therefore be happy with their initial investment and the length of their chosen term from the beginning.
Why we like them…
The eye-catching rate boost to these deals has made them formidable competitors, with all now sitting either at the top of their sector or close behind. Savers looking for a decent return are therefore likely to find them highly attractive, provided they are happy to lock their money away.
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.