UTB boosts 1 & 2-yr bond rates | Product News - Moneyfacts

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UTB boosts 1 & 2-yr bond rates

UTB boosts 1 & 2-yr bond rates

Category: Savings
Date: 22/05/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

The basics…

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.

The finer details…

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.

Why we like them…

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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