New 7-yr bond wrestles into the charts | Product News - Moneyfacts

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New 7-yr bond wrestles into the charts

New 7-yr bond wrestles into the charts

Category: Savings
Date: 27/10/2015

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 It is now over 6 months old so the content may be out of date.

United Bank UK has unleashed a highly competitive seven-year fixed rate bond onto the market, securing it a coveted place on the Moneyfacts charts thanks to its eye-catching rate and terms.

The basics…

7 Year Fixed Term Deposit pays 3.12% yearly (3.08% monthly, 3.43% on maturity), a market-leading rate for its term.

The finer details…

This account can be opened in branch, by post and online before becoming internet-operated. A minimum investment of £2,000 is required. Savers should also note that access is via a nominated account.

Further additions are not welcome but there is the potential to access funds prior to maturity upon the manager's discretion as well as closure of the account and the loss of 730 days' interest.

For those who are looking to invest non-personal savings, a business version of this account paying a slightly reduced rate is also available.

Why we like it…

This new addition to the savings market is likely to attract significant interest thanks to its market-leading rate. Savers who are looking to invest for the long-term are likely to appreciate its competitive position and flexible interest options, while the potential to access funds early, albeit with certain restrictions, adds another layer of appeal.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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