Fixed rate bonds get a rate rise | Product News - Moneyfacts

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Fixed rate bonds get a rate rise

Fixed rate bonds get a rate rise

Category: Savings
Date: 28/08/2015

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 It is now over 6 months old so the content may be out of date.

Shawbrook Bank has increased selected fixed rate bonds by 0.10%, enabling three of its deals to improve their positions in the Moneyfacts charts.

The basics…

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.

The finer details…

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.

Why we like them…

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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