Paragon Bank has added a Two Year Fixed Rate Savings Account paying a competitive 2.10% AER* to its inaugural range of savings products. The new account builds on Paragon’s Easy Access Account and One Year Fixed Rate Savings Account and is available online at www.paragonbank.co.uk.
Launched in February 2014, Paragon Bank is a new British bank focusing on providing straightforward and competitive savings and loans to UK consumers and SMEs.
The development of Paragon Bank’s initial savings accounts brings increased choice to UK savers, offering transparent products at good value interest rates.
Richard Doe, Paragon Bank’s Managing Director, said:
Following the successful launch of our initial products, we can now confidently pick up the pace with this new Two Year Fixed Rate Savings Account. Competitively priced, we expect it to be popular and savers should act quickly to avoid disappointment.
At Paragon Bank, our aim is to offer simple, straightforward and transparent savings accounts at consistently good value rates. We won’t offer complicated products or operate an expensive branch network, just safe and easy ways to save online.
Paragon Bank is registered under the Financial Services Compensation Scheme (FSCS) which protects eligible deposits up to a total of £85,000.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.