United Trust Bank has launched two variable rate tracker bonds, which have been awarded an 'excellent' rating due to their highly attractive rates and terms.
UTB 3 Year Tracker Bond pays a variable rate of 2.60% yearly, a top rate for its sector, and is guaranteed to be 2.10% above base rate. Its two-year counterpart pays 2.25% yearly, which will always be 1.75% above base rate.
These accounts can be opened in branch, by post and online and then operated in the same way except online. A minimum investment of £500 is required.
Neither account allows further additions or the ability to access funds early, so savers must be prepared to lock their original investment away for the duration of their chosen term.
These bonds offer a promising alternative to savers who are unsure about locking their money away with the prospect of a base rate rise looming on the horizon, with the guarantee ensuring that returns will remain will above that level. The three-year bond in particular offers savers an attractive rate, which is sure to result in popularity.
Moneyfacts rating: Excellent
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