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OakNorth improves fixed term deposits

OakNorth improves fixed term deposits

Category: Savings
Date: 02/03/2017

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 It is now over 6 months old so the content may be out of date.

OakNorth Bank has increased its fixed savings rates by up to 0.21%, which has seen its 24, 30, 36 and 60-month deposit accounts enter the Best Buy charts for their respective terms, earning them a high rating in the process.

The basics…

The 24-month Fixed Term Deposit now boasts a fixed rate of 1.66%, paid on maturity, while the 30-month equivalent pays 1.71% on maturity, the 36-month pays 1.76% and the 60-month pays 2.07%, with all interest compounded annually.

The finer details…

These accounts require a minimum investment of £1,000. Additions, withdrawals and early access are not permitted, which means savers will need to ensure they won't need their funds for the full length of their chosen term. These accounts must be opened online, but can then be operated by phone and post as well.

Why we like them…

The competitive rates on these bonds have earned them their places in the Best Buys, as well as their high rating.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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