Secure Trust Bank has unleashed two highly competitive fixed rate bonds onto the market, both of which have stormed straight to the top of their respective sectors.
Fixed Rate Bond 5 Year Term (Series 15) has a rival-beating yearly rate of 3.03% fixed until 31.1.20. Meanwhile, the seven-year version (series 14) has a market-leading rate of 3.11% yearly until 31.1.22.
Both accounts must be opened online with an initial investment of at least £1,000. They can then be managed by post or by phone.
Further additions are permitted while the issues remain open, but it is not possible to access funds prior to maturity. Savers must therefore be comfortable locking their money away for the full length of their chosen term.
Versions of both accounts are also available for businesses.
These accounts have taken the Moneyfacts charts by storm, speeding right to the top of the leaderboard. Consequently, they are likely to garner a lot of interest among savers who are searching for a decent return on their investment. However, savers must think carefully about how much money they are willing to lock away as there is no possibility of accessing their funds early.
Moneyfacts rating: Excellent
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