UK: Charter Savings Bank challenges top savings rates

Charter Savings Bank (CSB) have increased their rates on a range of savings accounts by up to 0.31% and introduced a new 18-month savings bond with a rate of 1.88%, the leading rate on this type of account at the time of writing.

The challenger bank also announced a five-year cash ISA, with a competitive interest rate of 2.11%, while other headline offers include a 3-year fixed rate bond at 2.13%, and a 120-day notice account offering 1.56% interest.

Director of Savings at CSB Paul Whitlock says: “We aim to increase rates and launch new accounts whenever we see an opportunity. We are confident that the new range will be very popular with customers looking for simple straightforward accounts and good service."

The rate increase followed the announcement by CSB’s parent company, Charter Court Financial Services, that CSB will be floated on the London Stock Exchange.

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