You are here: Home - Saving & Banking - News -

Challenger bank ups bond rates to storm best buy tables

Written by: Paloma Kubiak
Charter Savings Bank has raised the rates on its one year and 18-month bonds, trumping the previous best buys.

The challenger has increased the rate of its 1 year bond to 1.55% AER, up from the previous 1.46%.

And on its 18 month fixed rate bond, savers can earn 1.58% AER, having risen from 1.52%.

The move means both the one year and 18-month bonds step into pole position for their category in the best buy tables, trumping Ikano Bank’s 1.50% one year bond and BLME’s 1.55% expected rate of profit on its 18 month bond.

It said the rate rises mean the bonds now offer as much as 0.19% more than they did at the start of the month. However, the higher rates are just for new customers. Savers need to have a minimum £1,000 and can deposit a maximum of £250,000.

Paul Whitlock, director of savings at Charter Savings Bank, said: “Recent announcements may lead to some saver uncertainty over the coming weeks and months. We want to reassure our customers, and anyone looking for savings products, that Charter Savings Bank will continue to offer simple and straightforward products at competitive rates”.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Unfamiliar banks woo savers with top rates…is your money safe?

If you’ve been keeping an eye on the savings best buy tables, you’ll have noticed some unfamiliar names lu...

What the base rate rise means for you

The Bank of England has raised the base rate by 0.25% to 0.5% – following on from the increase from 0.1% to ...

How to get help with your energy bills

The rise in the energy price cap from April will mean millions of households will pay hundreds of pounds a yea...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week