Paragon Bank has market leading rates across its range of one, two and three year fixed rate bonds and ISAs.
Paragon Bank is topping up rates further across six of its products from Friday 18th September.
Paragon’s range of fixed term products can be opened online, over the phone or by post and are available to both new and existing customers.
The Fixed Rate Bonds impacted by the rate increase are as follows:
- 1 Year account (previous interest rate of 1.20% AER*, increasing to 1.30% AER*)
- 2 Year account (previous interest rate of 1.30% AER*, increasing to 1.35% AER*)
- 3 Year account (previous interest rate of 1.35% AER*, increasing to 1.37% AER*)
The Fixed Rate ISA rate increases apply to:
- 1 Year ISA (previous interest rate of 0.85% AER*, increasing to 0.95% AER*)
- 2 Year ISA (previous interest rate of 0.90% AER*, increasing to 1.00% AER*)
- 3 Year ISA (previous interest rate of 0.95% AER*, increasing to 1.05% AER*)
Paragon Bank’s ISA Wallet feature, which allows savers to spread their £20,000 annual ISA allowance across multiple Cash ISAs with Paragon, is available across its range of fixed rate ISAs.
Derek Sprawling, Savings Director at Paragon Bank, said:
“The interest rates on our fixed rate products are, as of today, market leading. This is reflective of our commitment to offering customers highly competitive products, that are also simple and straightforward to open and operate.
“These new rates complement new defined access and notice products over recent weeks which make our range of savings products one of the most compelling in the market.
“Having the ability to apply online, by telephone or by post means these rates are accessible to all. Our 28-day rate guarantee means 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:
Leila Taleb
Media Relations Manager
Paragon Bank
[email protected]