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  • New rate from Paragon Bank

    11 July 2014

  • One Year Fixed Rate Savings Account at 1.75% AER*
  • Account available online on balances of £1,000 to £100,000
  • Competitive rate for savers looking to lock in their money for 12 months

Paragon Bank is offering a One Year Fixed Rate Savings Account at 1.75% AER* to new customers, representing a competitive choice for savers looking to lock in their money for the next 12 months.

Launched in February 2014, Paragon Bank is a new British bank focusing on providing straightforward and competitive savings and loans to UK consumers and SMEs.

Now live with an Easy Access Account, a One Year Fixed Rate Account and a Two Year Fixed Rate Account, Paragon Bank’s simple and transparent savings products are available online at www.paragonbank.co.uk.

Richard Doe, Paragon Bank’s Managing Director, said:

As a new British competitor in the UK banking market, Paragon Bank is pleased to offer savers a range of competitive products just at a time many traditional banks are being criticised for paying lower rates to long-standing customers.

Easy to open and manage online, Paragon Bank’s savings accounts aim to offer consistently good value rates and are a natural choice for savers looking to switch funds languishing in low interest rate accounts elsewhere.

Paragon Bank is registered under the Financial Services Compensation Scheme (FSCS) which protects eligible deposits up to a total of £85,000.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.

Your eligible deposits with Paragon Bank are protected up to a total of £75,000 by the
Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
See how you're protected
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551