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Two-year fixed bond improved

Two-year fixed bond improved

Category: Savings
Date: 05/01/2017

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 It is now over 6 months old so the content may be out of date.

Axis Bank UK has increased the rate on its two-year fixed rate savings bond by 0.04%. This welcome change sees it enter the Best Buy charts for its sector, and earns it a high Moneyfacts rating in the process.

The basics…

The Fixed Deposit Account now boasts a competitive rate of 1.54% yearly over a term of two years, paid on maturity. Versions of the account which pay interest on a quarterly or monthly basis are also available (paying a slightly reduced rate of 1.53%).

The finer details…

This account requires a minimum investment of £1,000. Additions, withdrawals and early access are not allowed, so savers must ensure they are happy with their initial investment, and that they won't require their savings for the full two years of the term. The bond has to be opened in branch or online and can then be managed by post and in branch.

Why we like it…

Due to its increased rate and competitiveness in the current market, this account deserves its place in the Best Buys as well as its high rating, seeing it sit comfortably amongst its peers.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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