Fixed rate bonds make waves in the charts | Product News - Moneyfacts

Product News

Fixed rate bonds make waves in the charts

Fixed rate bonds make waves in the charts

Category: Savings
Date: 18/12/2014

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 It is now over 6 months old so the content may be out of date.

United Bank UK has increased selected rates by up to 0.54%, catapulting three of its accounts into the Moneyfacts charts.

The basics…

5 Year Fixed Term Deposit now has a joint market-leading rate for its sector, paying 3.01% yearly (2.97% monthly, 3.10% on maturity) after receiving the biggest rate increase of 0.54%.

Meanwhile, the two-year variant has a highly competitive rate of 2.06% yearly (2.04% monthly, 2.08% on maturity), while the three-year equivalent also has a rival-beating rate of 2.36% per annum (2.33% monthly, 2.42% on maturity), securing both top-10 positions in their respective sectors.

The finer details…

These accounts can be opened in branch, by post and online with a minimum deposit of £2,000. They can then be managed in branch and by post.

No further additions are permitted with these accounts, but it is possible to access funds early, albeit upon closure of the accounts and a loss of interest penalty.

Why we like them…

These bonds all possess top 10 rates for their respective sectors, something that is sure to generate interest among savers. The five-year deal is particularly competitive, boasting a joint market-leading rate. While further additions are not allowed, there is an option to access funds early, although this will result in closure of the accounts and an interest penalty. Nevertheless, this does offer savers some flexibility, adding extra appeal to these highly competitive deals.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close