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Paragon improves fixed savings accounts

Paragon improves fixed savings accounts

Category: Savings
Date: 03/02/2017

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 It is now over 6 months old so the content may be out of date.

Paragon Bank has increased the rates on its two-year bond and three-year ISA, which has seen both enter the Best Buy charts. This also earns both a high Moneyfacts rating.

The basics…

The two-year bond now has a fixed rate of 1.56% paid on anniversary, while the three-year ISA boasts a rate of 1.30%.

Versions of the accounts that pay slightly reduced rates of interest on a monthly basis are also available.

The finer details…

The bond requires a £1,000 minimum initial deposit. Further additions are allowed for five days from account opening, but withdrawals are not, with any access limited to a nominated account.

The ISA requires a £500 minimum initial deposit, with additions allowed for 15 days from opening and transfers in permitted. Early access and transfers out, on the other hand, will result in a 270 days' loss of interest penalty. Both accounts must be opened and managed online.

Why we like them…

The competitive rates on these deals have enabled them to take positions in the Best Buys and earned them a 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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