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Paragon Bank increases rates across raft of savings accounts

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Paragon Bank has increased rates across a raft of fixed-rate, ISA and Notice savings accounts.

In total, rates have increased across 10 accounts and highlights include a 120-day Notice account paying 4.60% AER, providing an option for savers looking to balance a dynamic outlook for future rates. The rates are available from today, Friday 22 June.

The rates increases include:

Fixed-rate accounts

  • One year FR account increased to 5.40% from 4.95%
  • 18 month FR account increased to 5.40% from 4.95%
  • Two year FR account increased to 5.45% from 4.95%
  • Launch of three year FR account at 5.30%
  • Green three year FR account increased to 5.30% from 4.85%
  • Five-year FR account increased to 5.00% from 4.50%

Fixed-rate ISAs

  • Three year FY ISA increased to 4.75% from 4.35%
  • Five year FR ISA increased to 4.65% from 4.00%

Notice accounts

  • 120 day Notice account increased to 4.60% from 4.00%
  • 180 day Notice account increased to 4.65% from 4.05%

Derek Sprawling, Paragon Bank Savings Director, said: “Savers have been increasingly moving their money into fixed-rate and notice accounts since the turn of the year and we believe these rates will provide an attractive option to those who are prepared to lock their savings away for a period of time.”

Please visit Paragon’s website for its full range of savings options.

For further information contact:

Michael Clarke
Head of Media Relations
Paragon Bank


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 £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.

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.