The award-winning provider has re-issued its Triple Access Savings Account, which is paying a rate of 0.41% AER variable*, in order to increase competitive options available for savers in the access space.

Paragon Bank is launching the Triple Access Savings Account from today, Friday 21st May 2021. The account is offering a variable rate and is available to open and manage online.

Savers can make up to three withdrawals a year without it impacting the interest rate**, which means the account is a good choice for people who are looking to save for the medium to long-term but want the flexibility of accessing funds if they need to, or looking to earn interest on their emergency fund.

Derek Sprawling, savings director at Paragon Bank, said:

“Paragon has been supporting UK savers with consistently competitive products against a backdrop of falling market rates. We remain committed to adding value by launching a competitive access account for savers. The Triple Access Savings Account offers people more choice in the access space and is a great option for people looking to earn a good interest rate on their emergency fund, or for those saving for a specific goal.

“We offer a broad range of saving products to suit all requirements that are straightforward to open and manage, and we will continue to look at ways we can innovate to offer great saving solutions for our customers.”

For further information, contact:

Leila Taleb, Media Relations Manager - [email protected] 

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

**After third withdrawal, interest rates will go to 0.25% AER* variable