Flagstone rates buck market trend

Since the 11th of March when the Bank of England’s Monetary Policy Committee reduced the base rate for the second time in a single week to an historic low of 0.10%, market average rates have already fallen across all types of deposit account*.

The biggest fall has been in fixed term deposits with one- and two-year rates falling by 5 basis points (bps) and five-year rates falling by 8bps. Notice accounts on average have fallen by 2bps and instant access accounts by 3bps.

Bucking this market trend however are new, exclusive and market-leading rates available to clients through the Flagstone platform.

The market average rate for one-year fixed term deposits has fallen to 1.11% AER/Gross but a market-leading rate of 1.75% AER/Gross is now available to individuals, businesses and charities through Flagstone.

The average notice account rate in the market has dropped to 1.02% AER/Gross, but at 1.80% AER/Gross the 95 Day Notice Account rate exclusively available to clients using the Flagstone platform remains unchanged and continues to be market-leading.

The average market rate for instant access deposit accounts has fallen to 0.53%, but individuals and joint account holders can access a market-leading rate of 1.42% AER Gross on the Flagstone platform, whilst businesses and charities can benefit from a best-in-market rate of 1.40%AER/Gross.

To learn more about Flagstone contact us at BusinessDevelopment@FlagstoneIM.com.

This article is not advice. If you would like to receive advice on your savings and investments, consider speaking to a Financial Adviser.

*Source: Moneyfacts - Changes to market average rates calculated between 10/03/20 and 27/3/20


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