New bonds make their presence known | Product News - Moneyfacts

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New bonds make their presence known

New bonds make their presence known

Category: Savings
Date: 30/06/2015

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 It is now over 6 months old so the content may be out of date.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 introduced a new two, five and seven-year fixed rate bond onto the market, securing them all places near the top of the Moneyfacts charts.

The basics…

Fixed Rate Bond 7 Year Term (Series 19) now pays a market-leading rate of 3.11% yearly until 30.6.22, earning it the top spot in its sector. Meanwhile, the two-year version (Series 11) pays a competitive rate of 2.21% yearly until 30.6.17 and the five-year variant (Series 20) pays a yearly rate of 3.03% until 30.6.20, which allows both bonds to sit just below their respective market-leaders.

The finer details…

These accounts must be opened online and then operated by post and phone. An initial investment of at least £1,000 is required. Savers should note that interest must be paid away.

Further additions are allowed while the issues remain open but early access prior to maturity is not. Savers must therefore choose the term of their bond carefully.

Business versions of all of these bonds are also available for non-personal savings.

Why we like them…

These bonds possess impressive rates, with the seven-year version being particularly competitive. As a result, they are likely to prove popular, but the lack of early access does mean that savers must be happy to lock 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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