Press releases

The amount of money held in fixed-rate savings accounts has nearly doubled over the past year as savers responded to rising interest rates, Paragon Bank analysis has revealed. 

CACI data analysed by Paragon Bank  showed that the saving market has seen a small dip in value for the first time this year, although average savings balances have reached a new high. 

CACI data analysed by Paragon Bank  showed that UK saving balances have reached record highs, despite the fixed rate market share continuing to shrink.

Paragon Bank has increased rates offered across its entire range of one, two and three-year fixed rate cash ISAs, offering a range of competitive options to savers in the tax-free space. 

Paragon Bank has increased rates offered across its entire range of one, two, three and five-year fixed rate cash ISAs to offer more choice to savers looking for competitive tax-free options. 

CACI data analysed by Paragon Bank showed that the average savings balance now stands at a record £12,077 as savings balances have continued to grow throughout the pandemic. 

Paragon Bank is targeting a top-of-the-market position with its 1 Year Fixed Rate ISA after increasing the rate to 0.80%.

Paragon Bank is targeting top-of-the-market positions for its range of fixed rate cash ISAs after it increased rates across four of its products. 

Paragon Bank boosted rates available to savers in the cash ISA space by increasing the return offered across its one, three and five-year fixed rate ISAs.

Paragon Bank has launched two new entries to the easy access market as well as boosting the rate on its two-year fixed rate ISA.