Paragon Bank has announced increases to its range of Fixed Rate ISAs, with the new rates available from today, Friday 7 October.

The rate increases include:

• 1 Year Fixed Rate ISA increasing from 2.61% AER to 3.51% AER*
• 18 month Fixed Rate ISA increasing from 2.85% AER to 3.55% AER*
• 2 Year Fixed Rate ISA increasing from 2.90% AER to 3.65% AER*
• 3 Year Fixed Rate ISA increasing from 2.91% AER to 3.66% AER*
• 5 Year Fixed Rate ISA increasing from to 2.95% AER to 3.67% AER *

1, 2, 3, and 5 Year Fixed Rate ISAs can be applied for both online and by post. 18 month Fixed Rate ISAs are only available for existing Paragon customers and may only be applied for online.

Account holders will also have the freedom to spread their tax-free ISA allowance across multiple ISAs with Paragon’s ISA Wallet and have the option of managing their account easily online or by post.

Full details of Paragon’s Fixed Rate ISAs can be found here.

Derek Sprawling, Savings Director at Paragon Bank, said:

“With rising prices and ongoing economic uncertainty, it is important that savers proactively research the financial products that are best for them and their circumstances – and ISAs can provide savers with an excellent opportunity to grow their savings pots. 

“At Paragon, our aim is to continue providing our customers with excellent returns on their savings and our new rates demonstrate how a Paragon Fixed Rate ISAs should always form part of the conversation when savers are looking at what to do support their financial goals.”

For further information contact:

Tom Frew
Media Relations Manger
Paragon
E: [email protected]
www.paragonbank.co.uk 

Notes to editors:

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £13 billion of assets under management and manages over 450,000 customer accounts.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551.