Charter Savings Bank has put its 120-day notice account and 18-month fixed bond right at the top of the Moneyfacts charts thanks to their highly competitive rates and terms.
120 Day Notice Issue 4 now pays a market-leading rate of 1.95% yearly (1.93% monthly) after receiving a 0.05% rate increase, sending it to the top of its sector. Meanwhile, the new 18-month version of Fixed Rate Bond pays 2.15% yearly (2.13% monthly), which is also a market-leading rate.
Both accounts must be opened and operated online with a minimum investment of £1,000.
The notice account permits further additions at any time as well as unlimited, penalty-free withdrawals, provided 120 days' notice is given. Early access is not possible, so savers must ensure that the notice period is observed, and it should also be noted that access is via a nominated account.
The fixed rate bond also allows further additions, but they must be made within the first 14 days of the account opening. As is common in the fixed sector, withdrawals aren't permitted, so savers must ensure that they are happy with the length of the 18-month term.
Both of these deals boast market-leading rates, which are sure to seduce savers on the hunt for decent returns. The option of monthly interest will also appeal to those looking to secure a regular income, while the ability to add extra funds lends the accounts some welcome flexibility. However, neither deal allows early access to funds, so savers must ensure that they abide by the rules of their chosen savings vehicle.
Moneyfacts rating: Excellent
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