Secure Trust Bank has relaunched its five and seven-year fixed rate bonds, enabling them to soar back into the top 10 of the Moneyfacts charts.
Fixed Rate Bond 5 Year Term (Series 17) pays a top-10 rate of 2.96% yearly to 31.3.20, while its seven-year counterpart (series 16) pays a highly competitive 3.11% until 31.3.22, a leading rate for its term.
The finer details…
These accounts must be opened online but can then be operated by post and phone. An initial deposit of at least £1,000 is required.
Savers are offered the flexibility of being able to make further additions while the issues remain open. However, no early access is permitted, so savers must ensure that they are happy with the amount they deposit and the length of their chosen term.
Business versions of both accounts are available for non-personal savings.
Why we like them…
Both of these bonds are likely to prove popular among savers thanks to their competitive rates. The ability to add further deposits while the issues remain open is an additional advantage, although the lack of easy access means that savers will need to think carefully about how much they invest and for how long.
Moneyfacts rating: Excellent
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