Shawbrook Bank raises savings rates | Product News - Moneyfacts

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Shawbrook Bank raises savings rates

Shawbrook Bank raises savings rates

Category: Savings
Date: 14/11/2014

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 It is now over 6 months old so the content may be out of date.

Shawbrook Bank has reviewed its savings offerings and increased the rates of its two-year bond and 120-day notice account by up to 0.15%. As a result, the positions of both have improved, earning them places just behind the market-leaders of their respective sectors.

The basics…

2 Year Fixed Rate Bond Issue 25 now has a highly competitive rate of 2.25% yearly, allowing it to sit near the top of the Moneyfacts charts.

Meanwhile, 120 Day Notice Personal Savings Issue 22 has a new and improved rate of 1.75% yearly, which also earns it a coveted spot just behind the market-leader of its sector.

The finer details…

Both of these accounts can be opened by post or online with a minimum investment of £1,000. They can then be managed by post, by phone or online.

Further additions are welcomed while the issues remain open, but early access to funds is not permitted. For the notice account, 120 days' notice must always be served when making withdrawals, while savers opting for the fixed rate bond will need to be comfortable locking their money away for the full two years.

Why we like them…

These deals were already competitive offerings, but their boost in rates has pushed them further up the charts. While early access is not possible, the option to add further funds offers savers some welcome flexibility. Consequently, these accounts are likely to tempt many eager savers looking for a good return.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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