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.