BM Savings has introduced a new one-year bond onto the market, earning it a coveted place on the Moneyfacts charts for its eye-catching rate and terms.
1 Year Fixed Rate Bond pays a competitive yearly rate of 1.90% (1.88% monthly), enabling it to nudge into the top 10 accounts of its sector.
This deal can be opened by phone and online and then managed by post. A minimum investment of just £1 is needed.
Like many fixed rate deals, further additions and early access to funds won't be permitted. Savers must therefore ensure that they are happy with the amount they invest and the length of the term from the beginning.
This account possesses a competitive rate that is sure to attract the interest of savers. The option of monthly interest enhances its appeal even further, while the small initial investment required ensures that it will fit every budget. However, the lack of early access does mean that funds have to be locked away, so savers must be confident they will not need to draw upon invested money before the bond matures.
Moneyfacts rating: Excellent
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