New bank aimed at supporting British farmers enters savings chart

Today, Oxbury Bank, which is focused on supporting British farmers, has entered the savings charts with the launch of fixed rate bonds and notice accounts.

Although Oxbury Bank has not launched with chart-topping rates, its savings accounts are still competitive within their charts and are available to consumers not within the farming sector.

The newly launched Oxbury Bank savings accounts are:

• Personal 95 Day Notice Account – Issue 2, paying 0.58% AER variable
• Personal 1 Year Bond Account – Issue 1, paying 0.56% AER fixed for one year
• Personal 18 Month Bond Account – Issue 1, paying 0.70% AER fixed for 18 months
• Personal 2 Year Bond Account – Issue 1, paying 0.75% AER fixed for two years
• Personal 3 Year Bond Account – Issue 1, paying 0.90% AER fixed for three years
• Personal 5 Year Bond Account – Issue 1, paying 1.17% AER fixed for five years
• Farm Building Bonus 1 Year Bond Account – Issue 1, paying 0.50% AER fixed for one year – an additional 0.36% is paid as a bonus if the eligibility criteria of being an active farm business is met
• Farm Business Bonus 95 Day Notice – Issue 1, paying 0.45% AER variable – an additional 0.36% is paid as a bonus if the eligibility criteria of being an active farm business is met

All these accounts require a £1,000 minimum opening deposit and can be opened online then managed online and via mobile app.

Saving deposited into an Oxbury Bank account are protected under the Financial Services Compensation Scheme (FSCS) – more information about this scheme can be found reading our guide on depositor protection schemes.

Oxbury Bank, which is regulated by the Financial Conduct Authority, is a challenger bank that is focused on supporting British farmers and the agricultural sector. Although the bank main aim is helping British farmers, its saving products are available to those not within the agricultural sector.