Flagstone Rates Buck Market Trend

Flagstone rates buck downward 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[1].

 

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 and how the platform can deliver value, please watch this short video and contact us at BusinessDevelopment@FlagstoneIM.com

 

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


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