RCI Bank UK’s bonds hold onto the charts | Product News - Moneyfacts

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RCI Bank UK’s bonds hold onto the charts

RCI Bank UK’s bonds hold onto the charts

Category: Savings
Date: 05/02/2016

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 It is now over 6 months old so the content may be out of date.

RCI Bank UK has reduced the rates paid on its fixed rate bonds, but despite this, its one, two and three-year deals have refused to budge from their chart positions thanks to their continued competitiveness.

The basics…

Fixed Term Bond (1 Year) now pays a competitive rate of 2.01% yearly (1.99% monthly), while its two and three-year counterparts pay 2.25% (2.23% monthly) and 2.60% (2.57% monthly) respectively, enabling all three to retain their top-10 places.

The finer details…

These accounts must be opened online but can then be managed by post, by phone and online. A minimum deposit of £1,000 is required.

Unusually, savers are welcome to make additional deposits for up to 30 days after opening an account, but access to funds prior to maturity is not allowed. Savers must therefore be happy to lock their investment away for the full length of their chosen term.

Why we like them…

These bonds may have undergone a rate reduction but this has not dented their competitiveness. Indeed, all three have maintained places in the charts and the added flexibility of further additions (for a limited period) and the choice of a monthly interest option further cements their appeal.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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