Fixed rate bond retains chart position | Product News - Moneyfacts

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Fixed rate bond retains chart position

Fixed rate bond retains chart position

Category: Savings
Date: 31/10/2014

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 It is now over 6 months old so the content may be out of date.

Vanquis Bank has reduced the rates of selected fixed rate bonds, but its five-year deal has kept its competitive spirit and held on to its place among the top 10 for its sector.

The basics…

The five-year version of the Vanquis Bank High Yield bond now has a competitive rate of 2.80% per annum (2.76% monthly), which has retained its place in the Moneyfacts charts.

The three-year variant, meanwhile, now pays 2.20% yearly (2.18% monthly) and the four-year version has a new yearly rate of 2.61% (2.58% monthly).

The finer details…

These accounts can be opened and operated online only with a minimum investment of £1,000.

As with many other fixed rate deals, no early access to funds or further additions are allowed. Consequently, investors must be happy with the amount they invest and the length of their chosen term from the beginning.

Why we like them…

Despite the decrease, the five-year account has retained its competitive edge and clung on to a place among the market-leaders of its sector. While no early access to funds or further additions are permitted, the option to have interest paid monthly gives these accounts some welcome flexibility.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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