Fixed rate bonds take charts by storm | Product News - Moneyfacts

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Fixed rate bonds take charts by storm

Fixed rate bonds take charts by storm

Category: Savings
Date: 30/06/2015

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 It is now over 6 months old so the content may be out of date.

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 basics…

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.

The finer details…

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.

Why we like them…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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