United Bank UK has increased rates across its range of fixed rate bonds for both personal and business customers, which sees many products move into the Moneyfacts best buy charts.
For personal customers, the standout product is the 5 Year Fixed Deposit account which offers an extremely competitive rate of 3.25% yearly (or 3.20% monthly/3.36% on maturity). This bond posts the highest increase of 0.35% while the one, two and three-year options have also seen rate increases, albeit to a lesser extent.
For business customers, meanwhile, the 0.35% increase to the 5 Year Fixed Business/Charity bond means it now pays 3.15% yearly (or 3.11% monthly/3.25% on maturity). Again, the one, two and three-year options have seen slightly smaller rate increases as well.
The finer details…
As is common with fixed rate bonds, no additions are permitted on any of the above products. However, for personal customers earlier closure is allowed, subject to a 2% interest penalty.
Why we like them…
This fixed rate review sees United Bank offer some highly competitive products, with all personal bonds making the top five for their respective terms and the five-year business account becoming the market-leader in its sector.
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 Any products featured may be withdrawn by their provider or changed at any time.
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