UK: Tandem Bank launches new fixed savings account

Tandem bank, the digital challenger, has launched three fixed saver accounts, enabling customers to increase their savings over one, two or three years.

The new accounts have been through various testing phases which have been carried out by members of the Tandem Bank team, along with their family and friends, and the group of co-founders. As of Mid-April, all Tandem Bank customers will have the opportunity to gain access to the savings accounts via their Tandem Bank app.

The new savers account comes with a fixed annual interest rate of up to 2.30%. Customers who take up one of these saver accounts will need to initially deposit a minimum of £1,000 into any of the three new savings accounts. The money deposited will be locked, with no withdrawals allowed until the product term ends.

The new saver accounts aim to help customers better manage and save money, with Daniel Goodwin the Product Manager at Tandem Bank saying, “Tandem is a bank that helps customers better manage their money, and these savings accounts are a way for people to see guaranteed returns on their cash.”

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