Charter Savings Bank has boosted the rates paid on its one and two-year fixed bonds, allowing both to shore up their positions on the Moneyfacts charts.
The one-year version of Fixed Rate Bond now pays 2.07% yearly (2.05% monthly), allowing it to sit just behind the market-leader in its sector. Its two-year counterpart, meanwhile, pays a competitive yearly rate of 2.32% (2.30% monthly), allowing it to cement its place among the top 10 accounts of its sector.
The finer details…
These accounts must be opened and operated online with a minimum investment of £1,000.
Additional deposits can be made for up to 14 days after an account has been opened, but early access to funds is not permitted. Savers must therefore be happy to lock their money away for the full length of their chosen term.
Why we like them…
The rate rises made to these bonds have reinforced their positions in the charts, with the one-year variant proving to be particularly competitive. The fact that they offer savers the option to accrue interest monthly will please those who want to secure a regular income, while the ability to add extra funds, albeit for a short period of time, adds a degree of flexibility.
Moneyfacts rating: Excellent
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