New 5 & 7-yr fixed bonds enter charts | Product News - Moneyfacts

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New 5 & 7-yr fixed bonds enter charts

New 5 & 7-yr fixed bonds enter charts

Category: Savings
Date: 30/04/2015

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 It is now over 6 months old so the content may be out of date.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

The basics…

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.

The finer details…

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.

Why we like them…

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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