interest rate guarantee
What is an interest rate guarantee?
Why is an interest rate guarantee important?
What interest rate guarantees does Icesave offer?
What is an interest rate guarantee?
An interest rate guarantee offers savers certainty on the level of variable or fixed interest rate they will receive. Interest rate guarantees often last for a set period but can be extended for further periods when they expire. Interest rate guarantees can be linked to a variety of factors, such as the Bank of England Base Rate (Repo Rate), inflation, or other financial providers interest rates.
Why is an interest rate guarantee important?
It is rare to always see one financial provider at the top of a best buy table for having the highest interest rate in the market. Because the best savings rates come and go and it can be frustrating, and time consuming, to constantly switch savings accounts to get the best interest rate it makes sound financial sense to look for a savings account with a long term interest rate guarantee. A good, long term interest rate guarantee can take the uncertainty of whether you are receiving a high interest rate out of the equation. And let’s face it – we have enough to worry about without worrying about whether we’re always benefitting from the best savings rate!
What interest rate guarantees does Icesave offer?
Icesave offers a range of high interest savings accounts with long term interest rate guarantees. For example our Easy Access Savings Account and Easy Access ISA offer long term interest rate guarantees that the rate will match or better the Bank of England Base Rate (Repo Rate). Our Fixed Rate Savings Accounts, on the other hand, enable you to fix a high interest rate on your savings for a fixed term. This means you don’t need to worry about your interest rate going down during the fixed term!
