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Today a rate increase from PCF Bank on a seven-year bond has resulted in it taking third place in the fixed-rate bond chart.
PCF Bank is now offering a rate of 2.75% fixed on its 7 Year Term Deposit Issue 10, a rate that matches the top rate in the fixed-rate bond chart. This seven-year bond requires an opening deposit of £1,000 and pays interest on each anniversary. The account allows further additions for 14 days from account opening, but withdrawals and early access are not permitted. It can be opened online and by post then managed both these ways as well as by phone.
Overall the fixed rate bond chart offers many of the best saving rates currently available, especially on long-term fixed rate bonds. Although the current uncertain economic climate means that many savers are preferring quick access to their funds, those that are prepared to lock their money away for five or more years are rewarded with the most competitive rates on the market.
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