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Paragon Bank launches new three-year fixed rate cash Isa

Jordan Williams | 13:02 Friday 10th March 2017

Paragon Bank has introduced its new three-year fixed rate cash Isa which offers strong interest rates for savers for those willing to deposit money for a longer term.

The Isa has an interest rate of 1.40% AER and will be aiming for the top of the best buys.

Paragon have launched the Isa alongside two other accounts which include a three-year rate savings account offering 1.80% AER and a four-year fixed rate savings account at 2.00% AER.

The four-year fixed savings account will complete the bank's non-Isa savings range as accounts are now available across five different time horizons with easy access and notice accounts.

“The new Three Year Fixed Rate cash ISA improves the competitive position of our ISA range, offering savers an attractive interest rate in a difficult market,” said Richard Doe, managing director of Paragon Bank (pictured above).

"The addition of the Three and Four Year Fixed Rate savings accounts also adds to the extensive range that Paragon offers, giving customers a wider range of choice whilst still offering consistently competitive rates."

Paragon's savings products are available online only and eligible deposits are protected by the Financial Services Compensation Scheme up to a maximum of £85,000.

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