United Bank UK has reduced the rates paid on its three and five-year bonds, but despite this, both manage to maintain their hold on the Moneyfacts charts thanks to their enduring appeal.
3 Year Fixed Term Deposit now pays 2.43% yearly (2.40% monthly, 2.49% on maturity), while its five-year counterpart pays 3.00% yearly (2.96% monthly, 3.19% on maturity), ensuring their continued places among the top 10 accounts of their respective sectors.
These accounts can be opened online, by post or in branch. The five-year account can then be managed via any of these channels, while the three-year deal can be managed via the latter two.
Both accounts require minimum investments of £2,000, after which no further deposits can be made. However, earlier access is permitted should the need arise, but this will result in closure of the account and a 270 or 365-day loss of interest penalty depending on the term chosen.
These accounts may have seen their rates cut slightly, but both have managed to maintain their chart positions thanks to their still-competitive returns. The ability to access funds early will be seen as a plus, as will the flexibility of earning interest yearly, monthly or on maturity – the latter of which could be particularly beneficial for those who don't mind waiting until the end of the term – ensuring they both maintain their status as Moneyfacts best buys.
Moneyfacts rating: Excellent
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