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Union Bank of India improves fixed bonds

Union Bank of India improves fixed bonds

Category: Savings
Date: 23/01/2017

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 It is now over 6 months old so the content may be out of date.

Union Bank of India (UK) Ltd has increased selected fixed term savings rates by up to 0.20%, which sees its three-year bond greatly improve its position in the Best Buy chart for its sector and its two-year deal become a joint market-leader, earning a high rating in the process.

The basics…

The three-year Term Deposit now boasts a competitive rate of 1.70% yearly, paid on maturity, which sees it sit just behind the market-leader for its term.

Or, for those looking to secure their funds for a lesser length of time, the two-year bond pays 1.60% yearly, which is the joint-top rate for its term and sees it sit comfortably towards the top of its chart.

The finer details…

The accounts require a minimum investment of £1,000. Additions and withdrawals are not allowed, with an earlier closure penalty being at the discretion of the bank, so savers must ensure they are happy to part with their funds for the full length of their chosen term. The accounts have to be opened in branch or by post and can then be managed in branch and online.

Why we like them…

Due to their increased rates and competitiveness, these accounts deserve their high places in the Best Buys as well as their high rating, sitting comfortably among their 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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