Rate boost puts bonds into the top 10 | Product News - Moneyfacts

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Rate boost puts bonds into the top 10

Rate boost puts bonds into the top 10

Category: Savings
Date: 04/11/2015

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 It is now over 6 months old so the content may be out of date.

Axis Bank has increased the rates paid on its two and three-year fixed rate bonds, pushing both into the Moneyfacts charts as a result.

The basics…

The two-year version of Fixed Rate Bond now pays a competitive rate of 2.27% yearly (2.27% on maturity, 2.26% quarterly or 2.25% monthly) while its three-year counterpart pays an annual rate of 2.50% (2.50% on maturity, 2.48% quarterly or 2.47% monthly), allowing both to sit comfortably among the top 10 accounts of their respective sectors.

The finer details…

Both accounts can be opened in branch and online with a minimum investment of £10,000 before becoming branch and postal-operated. Savers should note that access is via a nominated account.

As is common in the fixed rate market, neither account allows further additions or early access to funds. Savers must therefore ensure that they are happy with both their investment and the length of their chosen bond.

Why we like them…

The rate increases to these bonds have given them a competitive boost, enabling them to take coveted places in the Moneyfacts charts. The flexibility of the available interest options add some extra appeal and will probably prove to be attractive to those who wish to secure a regular income.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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