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IoM’s Conister unveils six ‘best buy’ accounts

IoM’s Conister Bank has created six new fixed rate, fixed term savings accounts

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The accounts span fixed terms between six months and five years, with a maximum interest rate of 5.05%.

The accounts – open to new and existing Conister clients – have a minimum deposit of £10,000. Conister highlighted the fact that all savers earn the same rate, regardless of amount deposited.

The rates range from 2.95% annual equivalent rate on the six month deposit account up to 5.05% on the five-year version. There are also 12 and 18 month and two and three year options with rising rates in line with the fixed term.

Simon Hull, managing director of Conister, said: “The launch of a new portfolio of savings products is ongoing evidence of our offering a genuine alternative to the ‘Big Banks’ for savers. Our ‘Best-Buy’ interest rates offer exceptional returns alongside the security of saving with one of the Island’s most trusted and longstanding financial institutions”

Simon Ripton, head of sales and marketing for Conister, said the launch of the new accounts was a ‘signal of intent’ that the bank, which was founded in the Isle of Man in 1935, was looking to top the best buy tables wherever possible by offering some five to 10 basis points above the next best competitor.

Rates and terms are summarised below:

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