Fixed rate bonds keep their competitive edge | Product News - Moneyfacts

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Fixed rate bonds keep their competitive edge

Fixed rate bonds keep their competitive edge

Category: Savings
Date: 11/03/2016

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 It is now over 6 months old so the content may be out of date.

Milestone Savings has reduced the rates paid on its fixed bonds by up to 0.45%, but despite this, its one, two, three and five-year deals have all kept their chart places thanks to their ongoing competitiveness.

The basics…

The one-year version of Fixed Term Deposit now pays an indicative profit rate of 1.80% on maturity, while its two, three and five-year counterparts pay respective yearly rates of 2.00%, 2.20% and 2.80%, all of which enable them to remain in the charts.

The finer details…

These Sharia'a compliant accounts must be opened online with a minimum investment of £10,000, but they can then be managed online, by post or by phone. Access is via a nominated account.

As is typical in this sector, no further additions or early access to funds are permitted, so savers must be happy with their initial investment and the length of their chosen bond from the beginning.

Why we like them…

These bonds may have undergone a rate reduction, but this has by no mean dented their attractiveness. Savers who have a larger pot to invest will find the top-10 rates appealing, and provided they are happy to lock their money away, these bonds could prove to be good short to long-term homes for their savings.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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