United Bank UK has increased rates across its fixed savings range by up to 0.25%, resulting in three of its products comfortably securing positions in the Moneyfacts charts.
2 Year Fixed Term Deposit now pays a competitive 2.15% yearly (2.17% on maturity), while the three-year version pays a yearly rate of 2.45% (2.51% on maturity) and the five-year equivalent boasts another top-10 rate of 3.02% yearly (3.11% on maturity).
All bonds require a minimum investment of £2,000. Monthly options of each, paying slightly reduced rates, are also available for those who wish to supplement their income.
The accounts can be opened online, by post or in branch, before becoming branch or postal operated. Like many fixed products, no further additions or withdrawals will be allowed, but they do allow earlier access at the manager's discretion. However, savers should note that this will be subject to closure of the account and the loss of up to 365 days' interest depending on the term chosen.
This rate review from United Bank UK sees several of its fixed rate bonds easily hold their own against the competition, with the combination of competitive rates and flexibility granting them deserved places in the charts. The fact that competitive monthly and on maturity options are available will add to the appeal, offering a truly excellent product for savers of all kinds.
Moneyfacts rating: Excellent
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 Any products featured may be withdrawn by their provider or changed at any time.
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