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  • Paragon Bank aims high with Two Year Fixed Rate savings account

    29 April 2015

  • Two Year Fixed Rate Savings Account – 2.21% AER*
  • Available from today for deposits between £1,000 and £100,000
  • Interest payable monthly or annually

Paragon Bank is launching a new Two Year Fixed Rate Savings Account today with an interest rate of 2.21% AER* on deposits from £1,000 up to £100,000. The Two Year Fixed Rate Account will be among the most competitive in the market, boosting value for savers content to lock up their money for a two year term.

Coming on top of Paragon Bank’s new Three and Five Year Fixed Rate Savings Accounts launched last week (paying 2.50% and 3.00% AER* respectively), Paragon Bank gives savers an attractive choice of interest rates to select from depending on their individual circumstances.

Richard Doe, Paragon Bank’s Managing Director commented:

Paragon Bank aims to offer savers consistently competitive products that are simple to understand and easy to manage. The rates currently available on our Two, Three and Five Year Fixed Rate Accounts are among the best in the market and our straightforward online application system make them an easy switch for busy savers.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.

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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.
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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