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  • Paragon Bank targets top spot with new Two Year Fixed Rate Account

    25 June 2015

  • Two Year Fixed Rate Savings Account at interest rate of 2.20% AER*
  • Option to receive interest monthly or annually
  • Minimum £1,000 deposit, maximum £100,000

Paragon Bank is launching a new Two Year Fixed Rate Savings Account (available from Thursday 25 June) with an interest rate of 2.20% AER*, available for savers with deposits from £1,000 up to £100,000.

The new online account represents an attractive choice for those savers looking for a guaranteed return on their funds and who are able to lock in their money for the full term.

Richard Doe, Managing Director of Paragon Bank, said:

Customers saving with Paragon Bank benefit from our consistently competitive interest rates. This new product offers a rate of interest well above the Bank of England base rate and comfortably in excess of the average rate available on equivalent products across the market. It provides further evidence of our commitment to maintaining a range of straightforward, value for money savings products for UK savers.

Paragon Bank is a UK bank, registered under the Financial Services Compensation Scheme (FCSC) which protects eligible deposits up to £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