Secure Trust Bank has added to its savings range with a five and seven-year fixed rate bond, both of which have stormed into the top 10 thanks to their competitive rates.
Fixed Rate Bond 7 Year Term (Series 17) pays 3.11% yearly until 30.4.22, a market-leading rate for its term. Meanwhile, its five-year counterpart (series 18) pays a competitive rate of 3.01% yearly until 30.4.20, giving it a top-five position in the Moneyfacts charts.
Both accounts must be opened online and then managed by post or phone. A minimum deposit of £1,000 is required.
Unusually, further additions can be made to the accounts while the issues remain open, but early access is not permitted. Savers must therefore think carefully about the length of their chosen term before they invest.
Business versions of both accounts are also available for non-personal investment.
These accounts both boast appealing rates that are sure to garner interest among savers, especially as they both allow further additions to be made. However, neither account allows withdrawals, which means that savers must be comfortable locking their money away for the full length of their chosen term.
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.