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Paragon Bank boosts interest rates across entire range of fixed rate ISAs 

Paragon Bank has boosted the interest rates on its one, two three and five-year fixed rate ISAs.

The new rates will be available to savers from tomorrow, Friday 02 July. The increase follows last week’s increase of Paragon’s fixed-rate bonds.

The FTSE 250 financial provider’s range of fixed term products can be opened and managed online, over the phone or by post and are available to both new and existing customers. Interest can be paid on a yearly or monthly basis.

The products impacted by the rate increase are as follows:

  • 1 Year FR ISA (previous interest rate of 0.55% AER*, increasing to 0.61% AER*)
  • 2 Year FR ISA (previous interest rate of 0.60% AER*, increasing to 0.85% AER*)
  • 3 Year FR ISA (previous interest rate of 0.70% AER*, increasing to 0.95% AER*)
  • 5 Year FR ISA (previous interest rate of 0.80% AER*, increasing to 1.05% AER*)

Derek Sprawling, Savings Director at Paragon Bank, said: “Savers appreciate the benefits of building tax free savings and we always aim to support customers to do that by offering the most competitive rates we can. It’s easy for people looking for a competitive deal to open and manage an account with Paragon and they can choose to apply online, by telephone or by post. Our 28-day rate guarantee ensures that any customers part way through the application process already, or with an imminent maturity with us, will also benefit from our new rates automatically.”

For further information contact:

Michael Clarke
Head of Media Relations
Paragon Bank
Tel: 07740090746

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