Vanquis Bank has increased the rate on its five-year fixed rate bond, ensuring it retains its chart-topping position in the Moneyfacts Best Buys.
The High Yield account now pays 3.16% on a minimum deposit of £1,000.
Interest is paid on the anniversary of the account and savers can deposit up to a maximum of £250,000.
This account must be opened and managed over the internet.
As is usual with fixed rate bonds, early access to funds or further additions will not be allowed.
Vanquis Bank's High Yield account pays the top rate in the five-year fixed market.
Four Moneyfacts Stars have been awarded.
Compare the long term fixed rate bonds
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