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Aldermore gives all the more to fixed rate savings

Aldermore gives all the more to fixed rate savings

Category: Savings

Updated: 11/08/2010
First Published: 11/08/2010

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 It is now over 6 months old so the content may be out of date.

Aldermore has set the savings sector alight after improving the rates on its fixed rate savings deals.

Rates of 3.70%, 4.12% and 4.75% are now available on its Two, Three and Five Year Fixed Rate Accounts respectively, while its One Year Fixed Rate Cash ISA now pays 3.00%.

All four deals now sit comfortably amongst the best products in their field, while the five year deal and the cash ISA are offering market leading rates.

As with most fixed rate bonds, no earlier access is permitted, so savers will need to be certain they can commit funds for the full term.

However, those who turn to the cash ISA will be pleased to see that access to funds is allowed, albeit with a hefty 120 days' interest penalty.

The rate rises are welcome news for savers looking for a fixed home for surplus funds or a short term home for their tax free allowance, with Aldermore well deserving four out of five Moneyfacts stars as a result.

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 Any products featured may be withdrawn by their provider or changed at any time.