Vanquis Bank has increased the rates for its three and five-year bonds by 0.05%, ensuring that they hold their place in the top 10 for their respective sectors.
The three-year Vaquis Bank High Yield bond now pays an annual rate of 2.55% (2.52% monthly). Meanwhile, the five-year variant now pays a rate of 3.21% yearly (3.16% monthly).
These bonds can be opened with a minimum investment of £1,000 and can be conveniently managed online.
Like many fixed rate bonds, no early access or further additions are permitted, so investors must be completely happy with the amount they invest and the length of the term.
The rate increases have reinforced these bonds' positions in the charts and are sure to catch the eyes of investors. While an early access facility is not offered, the option to have a monthly income adds some flexibility to these accounts.
Four Moneyfacts Stars have been awarded.
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