Paragon Bank has introduced a new three-year bond, which has won a place in the Moneyfacts charts for its competitive rate and terms.
Three Year Fixed Rate pays 2.40% yearly (2.37% monthly), earning it a place among the top 10 accounts of its sector.
This account must be opened and operated online with an initial investment of at least £1,000. All transactions must be made via a nominated account.
Unusually, further additions are permitted for five days after the account has been opened, offering savers some welcome room for manoeuvre. However, access to funds prior to maturity is not allowed.
This new bond is sure to grab the attention of savers with its attractive rate. The appeal is further increased by the options to make further additions and select a monthly rate of interest, something that will appeal to those who are looking to secure a regular income.
Moneyfacts rating: Excellent
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