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Savings: Great update for savers as bank issues new account and

Savings: Great update for savers as bank issues new account and

“All of our ISAs are designed with flexibility in mind. Our ISA Wallet feature gives savers the opportunity to split their ISA allowance across different ISA accounts, while our ‘flexibility’ feature allows easy access customers to replace funds withdrawn from an ISA without their allowance being impacted. On top of this, customers have the option to manage their fixed rate through the post. 

“It’s easy for people looking for a competitive deal to open and manage an account with Paragon and they can choose to apply online, by telephone or by post. Our 28-day rate guarantee ensures that any customers part way through the application process already, or with an imminent maturity with us, will also benefit from our new rates automatically.”

News from Paragon alongside other banks, notably smaller providers, is likely to be a fantastic update for those hoping to grow their cash. In this sense, though, many will have to ditch more familiar providers if they are really in search of the market’s most favourable rates at the present time.

This may not always be a bad thing, though, as the smaller nature of the challengers is what gives them the ability to offer these rates. However, with an influx of savers hunting for the best deals, some may not have the capacity, and could withdraw these offers from the table. As such, it will be important to act quickly on the matter.

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