The UK savings bank, RCI Bank has, for the third time this year, increased the rate of its easy access Freedom Savings Account. The rate has now risen to 1.10% for new and existing customers, making it the sole account at the top of the best buy tables.
According to the latest data from independent savings advisers, Savings Champion, this increase is now the highest easy access rate on the market since September last year, with the latest rate rise also boasting the biggest increase at the top of the easy access tables since July 2015.
The straightforward account has a starting balance of £100, with a maximum balance of £1 million, no penalties, notice periods, tiered rates, gimmicks or small print and can be opened by all UK residents aged 18 years and over. Customers are also supported by a dedicated UK based customer service team open seven days a week and 24/7 online access to their accounts.
The savings provider has also increased the rates on each of its fixed term bond offerings; its three-year product sits second on the leader board with a return of 1.70% AER, and its one and two-year rates have been boosted to 1.31% AER and 1.55% AER respectively.
Jean-Louis Labauge, CEO of RCI Bank, commented: “Since our launch in June 2015, we have set out to offer simple, straightforward and competitive savings products which make things better for UK savers. By increasing the interest rates on all our fixed term accounts, as well as our Freedom Savings Account for all customers, we are delighted to give saver’s nest eggs another well-earned boost, at the same time as being clear at the top of the easy access table and driving competition forward in the market.”
Savers are protected under the French guarantee scheme, FGDR, up to the value of €100,000.
For further information visit the RCI Bank website at rcibank.co.uk