TANDEM ANNOUNCE NUMBER ONE RATES ON FIXED SAVER ACCOUNTS PAYING UP TO 2.40% INTEREST

Digital bank Tandem has today announced that they are increasing the rates on their fixed-term savings, giving customers the opportunity to stash their money away with more interest than ever before. The rate offered for the three year Fixed Saver is market leading, topping the tables at 2.40%- with the 2 year Fixed Saver a close second, offering a rate of 2.25%.

Tandem’s main goal is to relieve people of their financial stress and the fixed term accounts allow savers to put aside large sums of money, whether it be for a holiday or a house, with table-topping rates of return. For those who are comfortable with putting their money away for a year or more, Tandem’s fixed rate accounts will pay far higher returns than easy access accounts.

Customers sign up for the fixed term savers via the Tandem website, make a single deposit and can then see their balance on the Tandem banking app, where they can also view all of their other bank accounts and cards. This gives people full visibility of their finances, making it easier to make informed decisions about how best to manage their money. Once the account is opened, all customers need to do is watch it their money grow.

David Goodwin, Product Manager at Tandem, says, “We launched our fixed-term savings accounts to encourage people to make their money work for them, rather than sitting idle. Since April, we’ve seen a real demand from people to lock away their money for a guaranteed return, with customers knowing that that their deposits with us are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS). We’ve now increased our rates considerably to encourage new savers to take advantage of the products. Our three-year Fixed Saver accounts boast the best rate in the market – there’s never been a better time to put money aside and watch it grow!”