Press releases

A survey by Paragon Bank found that topping up ‘rainy day’ funds and booking a holiday are two leading financial priorities for savers this year. 

One in three gifted more cash to loved ones last Christmas than they did the year before, despite 40% scaling back overall Christmas spending. 

The balance of easy access accounts earning a rate of 0.1% or less has nearly tripled since January, with 56% of easy access balances now earning a low rate. 

The British public is more than twice as likely to feel anxious about their finances than they are to be content with them, leading to sleeping problems and distraction at work.

In a survey involving more than 8,000 customers, Paragon Bank found that 21% of Gen-Z savers were spending more than before during the pandemic – this is 160% higher than the overall average of 8%.

Paragon Bank has market leading rates across its range of one, two and three year fixed rate bonds and ISAs. 

Paragon Bank is launching two new defined access products for those customers looking for a competitive savings rate for their rainy day funds. 

Paragon Bank has increased interest rates across its range of fixed rate saving accounts, including its ISAs and fixed rate bond products. 

British savers have put a record amount of money aside during May 2020 as the Covid-19 lockdown entered its fourth month, but nearly 40% of easy access balances are earning a rate of 0.1% or less. 

Paragon Bank has urged savers to ensure they are making the most of tax-free savings as figures show that the number of ISA openings has halved this year.