| UPDATED: 22:39, Thu, Feb 25, 2021
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Interest rates have faced challenges recently, but Paragon Bank has stepped in with a new offering. The provider has decided to increase the interest rates across all of its fixed rate products. The step was taken in order to offer further choice to savers who are currently on the lookout for competitive fixed rate options, Paragon Bank has said.
| UPDATED: 14:26, Sun, Feb 14, 2021
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Virgin Money customers alongside those thinking of switching will need to act by today if they wish to take advantage of the bank’s incentives. As of midnight tonight, Virgin Money will be withdrawing its Brighter Money Bundles deal, which has enticed many customers over the last few months. The package was first launched in November 2020 in an effort to reward both new and existing customers.
BANK account interest rates have not been favourable recently, however, a new offering has been reopened by popular bank Marcus, providing a safe haven for savers.
In addition, there will not be any changes applied to the cashback benefits the accounts provide - which are an enticing feature for Britons.
The bank has said it will be contacted all customers within the next few weeks to inform them of the changes and how they may be affected.
A “small number”, it stated, may end up paying more for their account than they currently earn on it.
Susan Allen, CEO of retail and business banking at Santander commented on the new decision.
Santander: Some people are turning to ISAs as interest rates are so low (Image: EXPRESS)