United Trust Bank has increased rates on selected fixed accounts by up to 0.20%, catapulting several bonds to the top of the chart for their terms. The bank has also unveiled a new 15-month fixed saving bond, another market-leader for its term.
UTB 1 Year Bond now pays the top annual rate of 1.95%, while the 18-month variant pays 2.15% per annum, another leading rate. The two-year account, which is joint market-leader, has a rate of 2.35% per year. Meanwhile, the three-year account has a yearly rate of 2.50% and the five-year version pays 2.60%.
The brand new 15-month bond pays a highly competitive rate of 2.10% a year.
All accounts can be opened online and managed by post with a minimum deposit of £500.
No early access or withdrawals are permitted with these accounts, and further additions are also not possible. For this reason, investors must be completely comfortable with the length of the bond and the amount invested.
Thanks to the increases initiated by the savings review, United Trust Bank tops several charts for individual terms. This is sure to attract the notice of investors, especially because such a small initial investment is required. However, investors will need to think carefully about how much they invest and the length of the bond, because early access and further additions are not permitted with any of these accounts.
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