Accessible via its iOS and Android application, Monument launched a new 5-year fixed term deposit savings product that offers an annual fixed interest rate of 2.20% gross/AER, considered the highest available in this category at the time of launch. Monument first launched its app and entered the savings market in December 2021.
Full details, including conditions and eligibility criteria, can be found in the Monument app and on the website. Depositors must hold a minimum balance of £25,000 with Monument in all savings accounts they hold at all times.
John Saunders, Commercial Director of Monument, said: “With inflation very much in the news, people will be looking to mitigate its impact on their savings in whatever way best suits their circumstances. Our new five-year fixed term deposit simply locks in the rate of 2.20% for the entire term, providing an option worth considering.
Monument’s savings products are designed to be simple, fair and easy to use. One of the main differences it offers is outstanding customer service using modern technology, allowing customers to open savings accounts in minutes, making the process one of the fastest on the market. Monument also believes that customer loyalty should be rewarded rather than taken for granted: when a customer renews a savings or loan product at the end of a term, they will receive a better rate than is available for a new customer at that time.