Bank of Cyprus UK has increased the rates of selected fixed rate bonds by up to 0.80%, pushing its one-year, 15-month, 18-month, two-year and three-year deals into the top 10 for their respective sectors.
The one-year version of Bank of Cyprus UK Bond now pays a competitive rate of 1.90% on maturity (1.70% monthly), while the 15-month and 18-month versions pay on-maturity rates of 1.95% and 2.01% respectively. The two-year variant now pays 2.10% yearly and the three-year version pays 2.46% yearly. All of these bonds now sit comfortably within the Moneyfacts charts.
These bonds can be opened and operated by phone, by post, online and in branch. A minimum investment of £1,000 is required.
Like many fixed rate deals, no further additions or early access is permitted. Savers must therefore be happy with the amount they invest and the length of their chosen term from the beginning.
These bonds all have impressive rates, something that is sure to pique the interest of savers. However, the lack of early access and the inability to contribute additional funds does mean that these accounts lack flexibility, so savers should ensure that they are comfortable with their investment and the term of their chosen bond.
Moneyfacts rating: Excellent
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