5 & 7-yr bonds take chart places | Product News - Moneyfacts

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5 & 7-yr bonds take chart places

5 & 7-yr bonds take chart places

Category: Savings
Date: 02/09/2015

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 It is now over 6 months old so the content may be out of date.

Secure Trust Bank has stormed the charts with a new launch of its highly competitive five and seven-year bonds, which have earned prized places in the Moneyfacts charts as a result.

The basics…

Fixed Rate Bond 7 Year Term (Series 21) pays 3.11% yearly until 1.9.22, the market-leading rate for its term, while its five-year counterpart (Series 22) pays 3.08% yearly until 1.9.20, also a top-10 rate.

The finer details…

Both accounts must be opened online and then managed by post or phone. An initial investment of at least £1,000 is required.

Additional deposits are welcomed while the issues remain open but early access is not permitted. Savers must therefore be comfortable locking their money away for the full length of their chosen term.

Non-personal versions of both accounts paying the same rates are also available for business owners.

Why we like them…

Both of these bonds offer savers some eye-catching rates, with the seven-year bond proving to be particularly competitive. The added flexibility of further additions, albeit for a limited time, is a welcome bonus, but savers must weigh up the fact that neither account allows access to funds prior to maturity.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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