Moneyfacts Weekly Product News – 02.04.2020 | moneyfacts.co.uk

Eleanor Williams

Finance Expert & Press Officer
Published: 02/04/2020

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

Savings

Hampshire Trust Bank – 1 Year Bond (Issue 33)

This week sees Hampshire Trust Bank increase the rate on its one-year fixed bond by 0.05%. Now paying 1.60% on maturity, this deal cements its position in the top rate tables in its sector and may entice savers searching for a competitive return on their cash over the short-term. Savers must be satisfied with the length of the term as earlier access is not permitted, however further additions are available for 14 days from account opening. The deal earns an Excellent Moneyfacts product rating.

Key product details:
• Rate: 1.60% gross/1.60% AER, payable on maturity
• Notice/term: One year
• Minimum opening amount: £1,000
• Maximum investment amount: £250,000
• Access: Not permitted
• Further additions: Permitted for 14 days from account opening
• Opening account: Online
• Managing account: Online, by post or by phone.
• Other information: Minimum applicant age 18,on maturity, funds paid into a variable rate account pending instructions/withdrawal.

Progressive BS – 5 Year Fixed Rate Bond (Issue 106)

Progressive BS has this week moved on the issue number on its five-year fixed rate bond, paying 1.75%, retaining a position within the top 10 when compared against other products with similar terms currently available. As is common in the fixed market, earlier access is not permitted. However, additions are permitted while the issue remains open, which investors may view as a plus. Therefore, this account earns an Excellent Moneyfacts product rating.

Key product details:
• Rate: 1.75% gross/1.75% AER, payable yearly
• Notice/term: Five years
• Minimum opening amount: £500
• Maximum investment amount: £1 million
• Access: Not permitted
• Further additions: Permitted while the issue remains open
• Opening account: By post and in branch
• Managing account: By post and in branch
• Other information: No minimum applicant age, reinvested into a further fixed rate or fixed term account on maturity.

Investec Bank Plc – 95 Day Notice Plus

Investec Bank Plc has opened up its 95 Day Notice Plus account to new customer applications this week, securing a position in the top rate tables in its sector as a result. Paying 1.59% monthly, for the 0% immediate access to withdrawals option, savers who are able to meet the minimum investment of £10,000 may find this an enticing option, particularly if they are searching for monthly interest to boost their income. The deal earns an Excellent Moneyfacts product rating.

Key product details:
• Rate: 1.59% gross/1.60% AER, payable monthly (0% immediate access option)
• Notice/term: 95 days
• Minimum opening amount: £10,000
• Maximum investment amount: £1 million
• Access: On 95 days’ notice only
• Further additions: Yes
• Opening account: Online
• Managing account: Online, by phone or by mobile app.
• Other information: Minimum applicant age 16, loyalty rate of 0.05% added if notice is not placed for 90 days.35-day and 65-day options available paying lower rates.

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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