Shawbrook Bank has reduced the rates of selected fixed rate bonds. However, its three-year and five-year deals have retained their competitive edge and kept their places in the Moneyfacts charts.
3 Year Fixed Rate Bond Issue 27 now pays a competitive yearly rate of 2.40%, which allows it to remain within the top 10 of its sector. Meanwhile, the five-year variant (issue 19) pays a yearly rate of 2.80%, enabling it to also retain its place in the charts.
The finer details…
These accounts can be opened by post and online and managed in the same away as well as by phone. A minimum investment of £5,000 is needed.
Further additions are welcomed while the issues remain open, but like many fixed rate deals no early access is allowed. Savers must therefore ensure that they are happy with the amount they invest and the length of their chosen term.
Why we like them…
Although both accounts have undergone a slight rate decrease, they remain competitive offerings within their respective sectors. As a result, savers are likely to remain keen, although they should bear in mind the lack of early access and be comfortable with locking money away.
Moneyfacts rating: Excellent
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