Fixed rate bonds launched

This week Nottingham Building Society launched a range of fixed rate bonds. Fixed Rate Account – Issue 182, a one-year bond, pays 1.20% yearly; Fixed Rate Account – Issue 183, a two-year bond, pays 1.25% yearly; Fixed Rate Account – Issue 184, a three-year bond, pays 1.35% yearly; and Fixed Rate Account – Issue 185, a five-year bond, pays 1.45% yearly. All these bonds require a minimum opening deposit of £500 and allow further additions while the issue remains open, but withdrawals are not permitted. These bonds can only be opened and managed online.

At the same time Nottingham Building Society launched a range of fixed rate ISAs. Fixed Rate ISA – Issue 45, a one-year ISA, pays 1.15% yearly; Fixed Rate ISA – Issue 46, a two-year ISA, pays 1.25% yearly; and Fixed Rate ISA – Issue 47, a three-year ISA, pays 1.35% yearly. All these ISAs can be opened with a minimum deposit of £500. Further additions are allowed while the issue remains open, but earlier access is permitted on transfers only subject to 180 days’ loss of interest. Transfers in are allowed, while transfers out are permitted subject to 180 days’ loss of interest. These ISAs can only be opened and managed online.

Easy access account launched

Monzo Bank has launched a new easy access savings account this week. Its Easy Access Savings Pot by Paragon pays 1.14% monthly on a minimum opening deposit of £500. The account allows unlimited further additions and withdrawals, although savers need to be aware that a Monzo Current Account is required in order to open this account. It must be opened and managed via its mobile app.

This week also saw Monzo Bank launch a one-year fixed rate bond. Its Fixed Savings Pot by Charter Savings Bank is a 12-month bond that pays 1.81% on maturity. It requires a minimum opening deposit of £500 and a Monzo Current Account is also required to open this account. Once opened, the bond does not allow further additions or withdrawals. It can only be opened and managed via its mobile app.

Fixed rate cash ISAs end dates extended

Secure Trust Bank has extended the end dates on a number of its fixed rate cash ISAs this week. 1 Year Fixed Rate Cash ISA, which pays 1.55% yearly, now has an end term date of 09.09.20; 2 Year Fixed Rate Cash ISA, which pays 1.75% yearly, now has an end term date of 09.09.21; 3 Year Fixed Rate Cash ISA, which pays 1.77% yearly, now has an end term date of 09.09.22; 4 Year Fixed Rate Cash ISA, which pays 1.78% yearly, now has an end term date of 08.09.23; and 5 Year Fixed Rate Cash ISA, which pays 2.02% yearly, has an end term date of 09.09.24.

All these accounts require a minimum opening deposit of £1,000 and allow further additions within 30 days of account opening. The one-year version allows earlier access on closure subject to 90 days’ loss of interest, while the two-year version, three-year version, four-year version and five-year version allows earlier access on closure subject to 180, 210, 230 and 270 days’ loss of interest respectively. All versions also allow transfers in, while transfers out are permitted but include the same penalty as the respective earlier closure. These bonds must be opened online but can then also be managed by phone as well.

Fixed bonds rates rise

This week Atom Bank has increased rates on a number of its fixed rate bonds. Its 6 Month Fixed Saver, as the name suggests a six-month bond, now pays 1.75% on maturity. Its 1 Year Fixed Saver, a one-year bond, pays 2.00% on anniversary, while the two-year version pays 2.05% on anniversary and the three-year bond and five-year bond pay 2.06% on anniversary.

All versions require a minimum opening deposit of just £50 and allow further additions for one week from opening. Withdrawals, however, are not permitted. These bonds can only be opened and managed via its mobile app. In addition to this, for those looking to supplement their incomes, there are versions of each bond that pay interest monthly all at a slightly reduced rate, except on the six-month version, which pays the same rate on both versions.

New fixed rate ISA enters chart

A new five-year fixed rate ISA, which was launched by Principality Building Society, has entered the chart this week. 5 Year Fixed Rate Cash ISA Issue 213 pays 1.90% on anniversary on a minimum opening deposit of £500. This ISA allows further additions while the issue remains open and earlier access is only permitted on closure subject to 360 days’ loss of interest. Transfers in are also allowed with this ISA, while transfers out are again permitted but subject to 360 days’ loss of interest. This ISA can be opened in branch and online, then managed both these ways as well as by phone. For those looking to supplement their income, there is a version of this ISA that pays interest monthly at a slightly reduced rate.

Fixed rate bonds launched

This week Cumberland Building Society launched a number of fixed rate bonds. 1 Year Fixed Interest Fixed Term, a one-year bond, pays 0.80% yearly; 2 Year Fixed Interest Fixed term, a two-year bond, pays 1.05% yearly; and 3 Year Fixed Interest Fixed Term, a three-year bond, pays 1.25% yearly. All these bonds require a minimum opening deposit of £1,000. They allow further additions while the issue remains open, however withdrawals are not permitted. Savers should also be aware that there are postcode restrictions on the opening of these bonds. In addition to this, they can only be opened in branch and then managed in branch, online and via its mobile app.

Notice account relaunched

A 90-day notice account has been relaunched this week by Newbury Building Society. Treasure Plus is a variable rate notice account that pays tiered rates depending on deposits. Its lowest rate is 0.75% paid at £1,000, but its also offers 0.90% paid at £10,000, 1.10% paid at £25,000 and 1.25% paid at £50,000. All rates are paid yearly. Savers should be aware that there are postcode restrictions to opening this account. Once opened, further additions are allowed, withdrawals can be made providing 90 days’ notice is given, and earlier access is permitted but subject to 90 days’ loss of interest, however there is no loss if £10,000 remains in the account. The account can be both opened and managed in branch, by post and online.