SAGA has launched a new one-year bond onto the market, securing it a top-10 position for its competitive rates and terms.
1 Year Fixed Rate Savings pays 1.75% on maturity (1.74% monthly), which allows it to sit among the top 10 accounts of its sector.
This postal-operated account can be opened by phone or online with a minimum deposit of just £1. Savers should note that this account is exclusively for those aged 50 and over.
As with many fixed rate deals, this account does not allow further additions or early access to funds. Savers must therefore be happy with the amount they invest and the term of the bond from the beginning.
Eligible savers are likely to be intrigued by this new bond, which has entered the Moneyfacts charts for its competitive rate. An added bonus is the monthly interest option, which will appeal to those savers who are looking to supplement their income. However, early access to funds is not permitted, so savers must ensure that they are happy with the length of the one-year term.
Moneyfacts rating: Excellent
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