Raphaels Bank has launched three new fixed rate bonds onto the market, all of which have proved to be highly competitive and have earned coveted places in the Moneyfacts charts.
The 12-month variant of Fixed Rate Bond has a top-10 rate of 1.80% on maturity while the 24-month version has a yearly rate of 2.25%, which allows it to sit just behind the market-leader of its sector. Finally, the 36-month account has a yearly rate of 2.50%, which also allows it to rest comfortably in the Moneyfacts charts.
These accounts can be opened and operated in branch and by post with a minimum deposit of £5,000.
As with many fixed rate deals, none of these accounts allow further additions or early access to funds. Savers must therefore be happy with the amount invested and the length of their chosen term.
These accounts boast some impressive rates that are sure to make savers sit up and take notice - the 24-month deal is particularly enticing as it sits just below the market-leader for its sector. However, as none of these accounts allow the flexibility of further additions or early access, savers must be comfortable about locking their money away for the full term.
Moneyfacts rating: Excellent
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