Secure Trust Bank has launched a new line of personal accounts with savings rates as low as 1.2 percent.
A number of banks and financial organizations are raising savings rates on a regular basis in a bid to entice depositors. Secure Trust Bank today announced the launch of a new line of personal savings products with competitive rates.
In the midst of economic uncertainty, the Bank of England has decided to hold the base rate at 0.1 percent. Savings rates are now low across the board. Despite this, banks have been launching new incentives on a regular basis in recent months in an attempt to attract new consumers.
Secure Trust Bank followed suit today, introducing a new line of personal savings products for new and existing customers, including notice accounts, fixed rate bonds, and fixed rate ISAs.
This gave depositors with “a choice of products at attractive rates to accomplish their savings goals,” according to the document.
The new savings options are instantly available.
Secure Trust Bank, on the other hand, highlighted that while it attempts to provide depositors with attractive rates, these products can be discontinued “at short notice once funding requirements are met or in response to rapid market fluctuations” owing to market conditions.
As a result, Obtain Trust Bank advised prospective clients to “act quickly to secure the rates on offer, keeping in mind that terms and conditions apply.”
The following are the newly released savings products:
Secure Trust Bank’s Head of Savings Products, Richard Balfour, commented on the introduction.
“We are thrilled to introduce a wide range of new personal savings accounts – consumers may select the account that best suits their savings goals,” Mr Balfour said.
“Our competitive fixed rate ISAs provide customers with the option to make the most of tax-free investments over the next one to three years, while the Notice Accounts offer market-leading rates and are excellent for individuals wishing to maximize returns on shorter-term deposits.
“Our Bond Accounts have competitive interest rates and are suitable for people wishing to maximize their investments over the following one to three years.
“These new accounts provide a fantastic chance for consumers to invest a portion of their cash savings at a competitive interest rate for a longer period of time.”
Secure Trust Bank isn’t the only company to introduce new rates this week; Moneyfacts.co.uk’s latest “Pick of the Week” highlights two more accounts that have benefited.
Eleanor Williams, a finance expert at “Brinkwire Summary News,” has enhanced Oxbury Bank’s Personal 2 Year Bond Account.