Fixed rate bonds hold onto their chart places | Product News - Moneyfacts

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Fixed rate bonds hold onto their chart places

Fixed rate bonds hold onto their chart places

Category: Savings
Date: 04/09/2015

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 It is now over 6 months old so the content may be out of date.

Charter Savings Bank has amended the rates of selected fixed rate bonds by up to 0.10%, but despite these changes, its 18-month, two, three and five-year deals have maintained their places in the Moneyfacts charts.

The basics…

The 18-month version of Fixed Rate Bond now pays 2.10% yearly (2.08% monthly), retaining its position at the top of its sector despite a slight rate decrease of 0.05%. The two-year version pays 2.28% yearly (2.26% monthly) after receiving a rate increase of 0.03%, while the three and five-year variants pay yearly rates of 2.55% (2.52% monthly) and 2.95% (2.91% monthly) respectively, allowing all three to maintain their top-10 places in their respective charts.

The finer details…

All of these accounts must be opened and operated online with a minimum investment of £1,000.

Further additions can be made for up to 14 days after an account has been opened, but withdrawals are not permitted. There is therefore no opportunity to access funds prior to maturity, which means that savers must be happy to lock away their money for the full length of their chosen term.

Why we like them…

All of these bonds boast impressive rates, with the 18-month version proving to be particularly attractive, despite the minor decrease. The fact that they also have the option of earning monthly interest lends them some welcome flexibility, which will appeal to those who are looking to secure a regular income. However, the lack of early access does mean that they will best suit those who 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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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