Paragon has announced the launch of a limited-edition easy access savings account offering 1.31% annual equivalent rate (AER).
The account – available for a limited period of time – accepts balances from £1 to £100,000 and is free from opening restrictions, withdrawal limits and introductory teaser rates.
Customers also have a choice to receive interest monthly or annually.
Richard Doe, managing director of savings at Paragon (pictured above), said: “Paragon is once again offering savers a competitive rate in the market.
“The new account strikes a balance between offering customers access to their money, while still earning an attractive return.
“We expect the recent announcement on the Bank [of England] base rate will cause many savers with incumbent providers to reassess their position and we want them to see Paragon as an alternative competitor for their savings.”
Eligible deposits are protected by the Financial Services Compensation Scheme up to a maximum of £85,000.
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