The Co-operative Bank offers new fixed term deposit rate

The Co-operative Bank has announced that it will be revising its current Fixed Term Deposit Rate and offering customers a new highly competitive rate of up to 6.62% Gross/AER on a one year term.

Fixed Term Deposits offer people a low-risk way of saving while guaranteeing fixed returns on their investments, with a choice of 1, 2 or 3 year terms.

The Fixed Term Deposit account offers:

A current interest rate of up to 6.62% GROSS/ AER on a one year term
Fixed rates guaranteed for the term of the deposit
The option for interest to be paid on maturity, or monthly into another bank account
The choice of 1, 2 or 3 year terms
Deposits from £2,000 to £1,000,000
A safe home for savings

Customers can choose whether they receive payment of interest as a regular monthly income or leave it to accumulate and reap the benefit at maturity.

The New Fixed Term Deposit Rate is available through The Co-operative Bank branches, online and via telephone – call 0800 724 365 or visit co-operativebank.co.uk for more details.

Scott McPhail, Savings Product Manager at The Co-operative Bank said: “As part of our continued strategy for growth at The Co-operative Bank, we are really pleased to offer our customers a new market leading rate on our one year Fixed Term Deposit.

“By saving with The Co-operative Bank, not only are people getting a very competitive rate but also the reassurance that they are banking with a provider that’s ‘good with money’ on every level”.