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Savings

Our business is organised into two lending divisions, Mortgage Lending and Commercial Lending. Funding comes from a range of different sources, with the majority of new lending funded by savings deposits.


Overview

Paragon’s principal source of funding for new lending is our range of savings products offered to UK households. Other funding for lending is derived from the efficient use of the Bank of England funding schemes, while securitisation continues to fund much of the historic mortgage book and is used tactically. Central funding is provided through corporate and retail bonds.

Savings overview

Savings products

Savings products

Paragon Bank offers a range of safe, simple and transparent Easy Access, ISA, Notice and Fixed Term savings accounts. Our regular survey of new savings customers demonstrates a high level of satisfaction with our products and our online application process.

Online distribution has been augmented by the addition of digital banking and wealth management platform relationships.

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Customers

260,000+
direct savings customers
(30 September 2023)

Average deposit

Average deposit

£28,000
held in each direct account
(30 September 2023)

Serving rating

Service rating

4.3/5
Feefo score
(30 September 2023)

Customer focus

Piggy bank

Fixed-rate cash savings nearly double

ISA blocks

It’s time to consider ISAs again

How to strengthen your savings habit

How to strengthen your savings habit


Customer contacts

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Find out more about our savings products

View products
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Contact the customer service team

Find out more