Paragon Bank has made a slight reduction to the rate of its three-year bond, but despite this, it's managed to hold onto its position in the Moneyfacts charts thanks to its competitive rate and terms.
Three Year Fixed Rate now pays 2.50% yearly (2.47% monthly) from a minimum investment of £1,000, allowing it to comfortably retain its place among the top 10 accounts of its sector.
This internet-operated bond offers a measure of flexibility by allowing further additions for five days from initial funding, but as is common in the sector, no withdrawals or early access is allowed, so savers will need to be comfortable with the term from the outset.
Despite the slight rate cut, this account manages to hold its own in an increasingly competitive sector, offering a top 10 rate that could be an appealing choice for savers willing to lock their money away for the full term.
Moneyfacts rating: Excellent
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