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  • Paragon Bank unveils two new market-leading savings accounts

    12 November 2014

  • 2.50% three year Fixed Rate Savings Account
  • 1.60% 120 day Notice Account
  • Fixed rate savings accounts now available for one, two and three year terms
  • Option to receive interest monthly or annually on all fixed term and notice accounts

From today, savers with Paragon Bank can choose a fixed rate savings account for a one, two or three year term and earn 1.75%, 2.10% and a top of market 2.50% AER* respectively on balances from £1,000 to £100,000.

For savers who require greater flexibility, Paragon Bank is also launching a new 120 Day Notice Account (available from Friday 14 November) at a market-leading 1.60% AER* for balances from £500 to £100,000.

All savers opting for a new fixed term or notice account will be able to receive interest monthly or annually, depending on what suits them best.

Richard Doe, Paragon Bank’s Managing Director, said:

These latest additions to the Paragon Bank range offer great value for savers looking to manage the trade-off between certainty and flexibility. Combined with the option to elect for monthly interest, Paragon Bank savers can now choose to boost their income with a regular top-up from their hard-earned funds.

As a new British competitor in the UK market, Paragon Bank is committed to expanding competition and choice for UK savers with a range of safe, simple and transparent products at consistently good value rates.

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.

FSCS protected small logo
Your eligible deposits with Paragon Bank are protected up to a total of £85,000 by the
Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
See how you're protected
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551