Rate rise pushes 1-yr bond to the top | Product News - Moneyfacts

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Rate rise pushes 1-yr bond to the top

Rate rise pushes 1-yr bond to the top

Category: Savings
Date: 05/06/2015

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 It is now over 6 months old so the content may be out of date.

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 basics…

The one-year version of Fixed Rate Bond now pays a market-leading rate of 1.91% yearly (1.89% monthly).

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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