Paragon Bank is ringing in the New Year after the launch of a series of products aimed at providing alternative savings options for savers whose NS&I 65+ Bonds are due to mature in early 2016. Paragon Bank’s limited edition easy access account, listed in best buy tables over the Christmas period, offers savers a competitive rate of 1.46% with no access restrictions. For customers looking to save over a fixed term, Paragon are also offering a one year fixed rate bond with a rate of 2.01%. Between those two options lies a market leading 120 day notice account offering a rate of 1.96%. The products form part of Paragon Bank’s commitment to provide consistently competitive savings products, their accounts have appeared more than 350 times in national press best buy tables during 2015.
Richard Doe, Managing Director at Paragon Bank, said;
The New Year is a good time to be thinking about saving some money after the Christmas period and this range of products offer savers competitive rates across a range of savings accounts.
We think these products offer a strong alternative to savers whose NS&I 65+ Bonds are maturing in 2016. And with 90% of our customers reporting that opening an account with Paragon Bank has been either ‘good’ or ‘very good’, we feel well placed to provide this alternative.
Launched in February 2014, Paragon Bank is the youngest and fastest-developing subsidiary of The Paragon Group of Companies. The value of savings deposits held by Paragon Bank topped £1 billion in 2015, after less than two years in business.