As we head into the final weeks of the current ISA season, Paragon Bank has increased rates across a range of fixed-rate ISAs.

Rate increases include:

• One-year fixed rate ISA increasing from 1.06% AER to 1.15% AER
• Two-year fixed rate ISA increasing from 1.37% AER to 1.45% AER
• Three-year fixed rate ISA increasing from 1.45% AER to 1.50% AER
• Five-year fixed rate ISA increasing from 1.50% AER to 1.55% AER

The one and two year fixed rate ISA products are currently market-leading rates.

The current tax year runs until 5 April 2022, meaning savers have approximately a month to use their £20,000 annual ISA allowance.

Paragon’s ISA Wrapper and Flexible ISA features mean that our ISA range can help those customers looking to create a portfolio of cash ISAs to meet their individual circumstances.

The ISA Wallet allows savers to spread their £20,000 annual ISA allowance with Paragon across multiple cash ISAs, rather than just open one specific account. Savers can invest their money across Paragon's range of Easy Access, Notice and Fixed accounts, enabling them to get the most from their ISA savings in a single tax year.

Meanwhile, the Flexibility feature allows the withdrawal and replacement of funds across or Access ISA range within the same tax year without using more of your ISA allowance. 

The full range of Paragon’s fixed rate ISA savings products can be found here.

Derek Sprawling, savings director at Paragon Bank, said:

“There are just a few weeks to use your ISA allowance for this tax year and we hope these improved rates are attractive for savers. We see ISAs as an important part of a portfolio of savings and provide competitive pricing for access and fixed term products. Our ISA Wrapper and Flexible ISA features mean that our ISA range can help those customers looking to create a portfolio of cash ISAs to meet their individual circumstances.”

Paragon Bank operates a 28-day rate guarantee, which ensures that any customers part way through the application process will benefit from the new rates automatically.

For further information contact:

Michael Clarke
Head of Media Relations
Paragon Bank
07740090746

Notes to editors:

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 and regulated 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.