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Rate boost for long-term bond

Rate boost for long-term bond

Category: Savings
Date: 01/07/2016

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 It is now over 6 months old so the content may be out of date.

Vanquis Bank has reviewed its savings range and increased rates by up to 0.16%, giving a welcome boost to the market and securing its five-year bond a lucrative position in the Moneyfacts charts.

The basics…

The five-year version of Vanquis Bank Savings now pays a top-10 rate of 2.31% yearly (2.29% monthly), which allows it to comfortably take a place among its competitors.

The finer details…

This wholly internet-operated account requires a minimum investment of £1,000, and as is common in this sector, no further additions and withdrawals will be permitted.

Why we like it…

This straightforward bond easily deserves its place in the charts, offering a highly competitive rate to those who are willing to lock their money away for a few years. The option to receive interest monthly will also be seen as a plus, giving savers some welcome flexibility and the chance to secure an income from their savings.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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