Charter Savings Bank has increased the rate of its one-year bond by 0.16%, propelling it to the very top of the Moneyfacts charts.
The one-year version of Fixed Rate Bond now pays a market-leading rate of 1.91% yearly (1.89% monthly).
This account must be opened and operated online with an initial deposit of at least £1,000.
Additional deposits can be made for up to 14 days after the account has been opened but early access is not permitted. Savers must therefore be comfortable locking their money away for the full one-year term.
The rate increase has made this deal a market-leader in its sector, which is sure to pique the interest of savers on the hunt for decent returns. The fact that there is a monthly interest option will appeal to those looking for a regular income, while the ability to make extra deposits adds another level of flexibility. However, as early access is not allowed, savers must ensure that they are happy to lock their money away.
Moneyfacts rating: Excellent
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