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Paragon Bank increases rate on two-year fixed rate bond

Theo Osborn | 07:29 Wednesday 3rd October 2018

Paragon Bank has increased the rate of its two-year fixed rate bond to 2.26% AER.

The product is available online only with eligible deposits protected by the Financial Services Compensation Scheme up to a maximum of £85,000.

This is the second rate increase by the specialist bank in the past week.

Last week, it increased the rate on its three-year fixed rate savings account as it aims to offer a competitive alternative for savers considering a new provider.

Richard Doe, managing director at Paragon Bank (pictured above), said: “Paragon Bank is once again offering a competitive rate to help our customers make more of their savings.”

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