Paragon Bank has introduced a new five-year fixed bond to the market, instantly securing it a coveted place on the Moneyfacts charts thanks to its competitive rate and terms.
Five Year Fixed Rate pays a competitive 3.00% yearly (2.96% monthly), enabling it to take a stand among the top 10 accounts of its sector.
This internet-operated account requires an initial investment of at least £1,000, although it does permit further additions for up to five days after opening. Early access, however, is not allowed, so savers must ensure that they are comfortable investing their money for the full five-year term.
This new face in the savings market is likely to garner interest thanks to its competitive rate and appealing monthly interest option. The fact that it also allows additional deposits, albeit for a limited amount of time, further adds to its attraction.
Moneyfacts rating: Excellent
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