Bond Battle Raises Interest: Secure Trust Now Offers 1.25% As New Banks Jump Over Each Other To Pay Top Rates On Short Fixed Interest Rates
Bond Boost: Several banks now pay more than 1.2% fixed for one year
New banks are jumping each other over to pay top interest rates on fixed-rate bonds.
There are now several who pay 1.2 percent fixed for a year, compared to a very high rate of 1 percent earlier in the summer.
The best rate is currently 1.25 percent offered by Secure Trust Bank.
Kent Reliance pays 1.17 percent, making it the best deal on the high street for those who would rather use a branch than open an account online.
These rates are much better than those of the big banks. HSBC and Barclays are only offering 0.3 percent on their one-year fixed-rate bonds.
You earn very little extra by keeping your money in for longer at the highest rate over two years of just 1.35 percent of Secure Trust.
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