United Bank UK launches new fixed deposit accounts

Piggy bank

United Bank UK has introduced three new fixed deposit accounts, with some of the best savings rates on the market.

Aimed at savers seeking monthly income from their savings, there's a 2 Year Fixed Term Deposit paying 2.15% AER, a 3 Year Fixed Term Deposit paying 2.45% AER and a 5 Year Fixed Term Deposit paying 3.02% AER, Savings Champion has revealed.

Savers will need a minimum deposit of £2,000 to open any of these accounts and the maximum investment is a whopping £1 million.

However, Vanquis Bank, which also offers 3.02% AER on its 5 Year Fixed Rate Bond, has beaten United Bank UK to the top position in Saving Champions Monthly Income Best Buy Table because savers only need £1,000 to open the account.

For savers who have £1,000 or less to invest, other products to consider for their monthly gross interest rates are ICICI Bank UK's HiSave Fixed Rate Account - 1 Year, which you can open with £1,000 and has a 1.85 AER, and Paragon Bank's 120 Day Notice Account, with an AER of 1.60 and a minimum deposit of £500.

Find the best cash Isa or savings account for you

More about