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New fixed bonds take charts by storm

New fixed bonds take charts by storm

Category: Savings
Date: 10/01/2017

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 It is now over 6 months old so the content may be out of date.

Atom Bank has launched new three and five-year fixed rate bonds, both of which enter the Best Buy charts of their respective sectors near or at the top, earning a high Moneyfacts rating in the process.

The basics…

The 3 Year Fixed Saver pays a highly competitive yearly rate of 1.70%, which sees it sit just behind the market-leader for its term. The five-year equivalent, meanwhile, pays the joint market-leading rate of 2.05% per year, taking over the top chart spot in the process. Both deals are also available as monthly interest accounts, paying 1.69% and 2.03% respectively.

The finer details…

The bonds require a minimum investment of £50 and have to be opened and operated by mobile app. Further additions are allowed for one week from account opening, but earlier access and withdrawals are not, which is why savers should make sure they will not need to access their savings for the full term of their chosen deal.

Why we like them…

Their highly competitive rates alone are enough to see these bonds fly to (or near) the top of the Best Buys, with the small initial deposit requirement adding to their appeal. They therefore easily earn our high rating, and are likely to appeal to many smartphone-savvy savers.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

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