Vanquis Bank scores market-leading rate | Product News - Moneyfacts

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Vanquis Bank scores market-leading rate

Vanquis Bank scores market-leading rate

Category: Savings
Date: 22/08/2014

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 It is now over 6 months old so the content may be out of date.

Vanquis Bank has upped the rates on its four and five-year fixed accounts by 0.05%. This has propelled the four-year bond into a market-leading position, while the five-year version sits just below the leading heavyweights for its term.

The basics…

The four-year Vanquis Bank High Yield account now pays a competitive rate of 2.96% yearly (2.92% monthly), while the five-year version boasts a yearly rate of 3.16% (3.12% monthly).

The finer details…

These accounts are opened and operated online, with a deposit of at least £1,000. Typically, these accounts do not allow early access to funds or further additions. Savers therefore need to be happy with the amount they have invested and the length of the term.

Why we like them…

Thanks to the helping hand of a rate rise, the four-year account now has a market-leading rate, which is sure to tempt many investors. Despite the lack of flexibility in terms of access and further deposits, this account does have an appealing monthly option, which is likely to be seen as an added bonus by savers.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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