UTB’s 3-yr bond stays in the top 10 | Product News - Moneyfacts

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UTB’s 3-yr bond stays in the top 10

UTB’s 3-yr bond stays in the top 10

Category: Savings
Date: 29/10/2014

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 It is now over 6 months old so the content may be out of date.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 reviewed its fixed rate deals and made some marginal reductions. However, its three-year bond has retained its competitive edge and stayed in the top 10 for its sector.

The basics…

UTB 3 Year Bond now has a competitive rate of 2.30% per annum, maintaining its position in the Moneyfacts charts. Its two-year equivalent has a new rate of 1.90%, while the five-year version pays 2.50% yearly.

Meanwhile, its ISA has also seen a review, with ISA 5 Year Bond offering a new rate of 2.50% per annum.

The finer details…

The bonds can be opened by post or online, and then operated by post. A minimum deposit of just £500 is needed. Further additions and early access to funds is not permitted, so investors must be happy with their choice of term and the amount invested.

The ISA can be opened with an initial deposit of £5,000 by post or in branch. The account can then be managed by either method. Like the bonds, no further additions or early access to funds are allowed, but transfers in of cash and stocks & shares ISAs are welcomed. Transfers out of the account are also permitted, although this will result in an interest penalty.

Why we like them…

Although the three-year bond has seen a slight reduction in rate, it still pays an attractive amount of interest. The small investment required gives this account added appeal, and it is likely to catch the eye of investors who are happy to lock away a set sum of money for a mid-length term.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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