Savings account offers ‘excellent’ interest rate of 4.32% in great news for savers | Personal Finance | Finance

The new deal has been rated as “excellent” by the team at Moneyfacts but people will not be able to access their funds until the end of the term.

Commenting on the deal, Eleanor Williams, finance expert at Moneyfacts.co.uk said: “Following its withdrawal at the end of last week, SmartSave has launched a new one-year fixed rate bond this week.

“Available to those with at least £10,000 to invest, this fixed bond pays 4.32 percent on maturity, and so takes a place in the top rate tables when compared against other bonds with similar terms currently on offer.

“Like many fixed accounts, earlier access to funds is not permitted, so savers need to be happy to secure their cash away for the term of the account, but they are able to make further additions for 14 days from account opening, which may be a plus for some investors. Overall, this account receives an Excellent Moneyfacts product rating.”

READ MORE: Chase increases interest rate on its savings account