Shawbrook Bank has increased selected fixed rate bonds by 0.10%, enabling three of its deals to improve their positions in the Moneyfacts charts.
18 Month Fixed Rate Bond Issue 11 now pays 2.10% yearly, which allows it to sit just behind the market-leader for its term. Meanwhile, its one-year counterpart (Issue 31) pays a yearly rate of 2.05% and the two-year version (Issue 32) pays 2.30% yearly, enabling both to move up into comfortable top-10 places.
All accounts can be opened by post and online and then managed in the same way as well as by phone. An initial investment of at least £5,000 is needed.
Additional deposits can be made while the issues remain open, but early access is not permitted. Savers must therefore be happy to lock their money away for the full length of their chosen term.
The rate boost to these accounts has increased their competitiveness in the market, allowing them to move up the charts. The 18-month version is particularly competitive, now sitting just behind its sector's market-leader. However, savers must bear in mind that it will not be possible to access funds prior to maturity, so they will need to be comfortable locking their funds 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 Any products featured may be withdrawn by their provider or changed at any time.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.