Working in the financial industry for over 30 years, Rachel Thrussell is the leading independent expert on UK savings products. Her views are constantly in demand from both the industry and the press.
Why do most of the best bonds that you show seem to disappear almost as soon as they have launched?
It is certainly true that the top-paying bonds are vanishing quickly, sometimes within days of their launch. The reason is that accounts with an attractive rate can expect a massive influx of funds very quickly. As soon as the bank or building society has the quota of money through the door that they have decided they can pay the rate on, the product will be withdrawn. Unfortunately, at the minute, most banks and building societies don’t really need depositor’s money in order to fund their other business activities, such as mortgage lending, hence the relatively low rates and short amount of time the better rates are available.
The lesson to learn is to act fast when an attractive rate becomes available, as it is unlikely to be around for too long!
|1 Year Fixed Rate Bond||1.25%|
|2 Year Fixed Rate Bond||1.35%|
|3 Year Fixed Rate Bond||1.49%|
|4 Year Fixed Rate Bond||1.71%|
|5 Year Fixed Rate Bond||1.76%|
|3 December 2019|
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