Profit can be applied to the account on the anniversary of opening, or monthly and upon accrual from a minimum deposit of £1,000. However, withdrawals are not allowed.
In fourth place is Zopa savings for 4 fixed years With an average annual growth rate of 4.85 percent.
Similar rules apply to the five-year fixed savings scheme. A minimum deposit of £1,000 is required, interest is paid monthly, and no withdrawals are allowed until the term has expired.Read:EBC’s Nagel says German economy is likely to suffer a recession if energy crisis deepens
Fifth order is FirstSave 3-Year Fixed Bond (November 22 Issue) with an AER of 4.8 percent.
A minimum of £1,000 is required to open the account and up to £2,000,000 can be invested over the three year period. Interest is paid on the anniversary of opening the account and withdrawals are also not allowed until the account maturity date.
Woodland Fixed 4 Year Savings Instrument for Gatehouse Bank It ranks sixth with an AER of 4.8 percent.
The same rules apply to the five-year period; Profit is earned instead and a new tree is planted in UK forests with every account. A minimum deposit of £1,000 is required, interest is paid annually, monthly or on maturity and no early withdrawal is permitted.Read:Barratt reports slump in new home orders as mortgage rates rise | Barratt Developments
Seventh on the list is Union Bank of India (UK) Limited Fixed Rate Deposit with an AER of 4.8 percent.
A minimum deposit of £1,000 is required to open and up to £1,000,000 can be invested in this bond for three years and no withdrawals are allowed.
Eighth place is something else Union Bank of India (UK) Limited own account Union Premier Bondalso with an AER of 4.8 percent.
This account also has a term of three years but requires a minimum deposit of £5,000 to open. Interest is paid when due and a gratuity of 0.10 percent over the current interest rate will apply for renewals. Withdrawals before the expiration date are not permitted.Read:Bitcoin price plummets as crypto space ‘left reeling’ from failed Binance takeover of FTX