Source: Monument
Accessible via its iOS and Android app, Monument has launched a new 5 year Fixed-Term Deposit savings product which offers an annual fixed interest rate of 2.20 percent Gross/AER, believed to be the highest available in this category at the time of launch. Monument first released its app and entered into the savings market in December 2021.
Full details, including terms and eligibility criteria, can be found in Monument’s app and on the website www.monument.co. Depositors must hold a minimum balance of £25,000 with Monument across all savings accounts they have at any time.
John Saunders, Monument’s Chief Commercial Officer said: “With inflation very much in the news, people will be looking to mitigate its impact on their savings in ways that best suit their situation. Our new five year Fixed-Term Deposit simply locks in the 2.20% rate for the full term, and so provides an option for people to consider.”
Monument’s savings products are designed to be simple, fair and easy to use. One of the key differences it offers is an exceptional client service using modern technology, allowing clients to open a savings accounts in minutes, making the process one of the quickest in the market.
Monument also believes that client loyalty should be rewarded rather than taken for granted: when a client renews a savings or lending product at the end of a term, they will receive a better rate than is available to a new client at that time.