United Trust Bank has increased the rates of selected fixed bonds by up to 0.25%, cementing its one and two-year deals in the Moneyfacts charts.
UTB 1 Year Bond now pays 1.90% on maturity, which allows it to sit just behind the market-leader for its sector. Its two-year counterpart pays a top-10 rate of 2.00% yearly.
These accounts can be opened by post and online and then managed in branch or by post. An initial investment of at least £500 is needed.
Like many fixed rate deals, neither account allows further additions or early access. For this reason, savers must be happy with the amount they invest and the length of their chosen term from the beginning.
Both of these bonds have increased their competitiveness in the wake of their rate increases, allowing both to sit comfortably among the top 10 in the charts. However, the lack of early access does mean that savers must think carefully about the length of the one and two-year terms and ensure that they are happy to lock their money away.
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.