The ISA, which will be available from 10 March, will be aiming for the top of the best buys. The product offers a strong interest rate for savers who are willing to deposit money for a longer term.
The ISA will be launched alongside two other new accounts, a 3-year fixed rate savings account offering 1.80% AER and a 4-year fixed rate savings account at 2.00% AER. The addition of the 4-year fixed rate savings account will complete Paragon’s non-ISA savings range, with accounts now available across five different time horizons along with Easy Access and Notice accounts.
Richard Doe, Paragon Bank’s Managing Director commented:
“The new Three Year Fixed Rate cash ISA improves the competitive position of our ISA range, offering savers an attractive interest rate in a difficult market.
"The addition of the Three and Four Year Fixed Rate savings accounts also adds to the extensive range that Paragon offers, giving customers a wider range of choice whilst still offering consistently competitive rates."
