Paragon Bank is launching two new defined access products for those customers looking for a competitive savings rate for their rainy day funds. 

Paragon Bank has increased interest rates across its range of fixed rate saving accounts, including its ISAs and fixed rate bond products. 

British savers have put a record amount of money aside during May 2020 as the Covid-19 lockdown entered its fourth month, but nearly 40% of easy access balances are earning a rate of 0.1% or less. 

Paragon Bank has urged savers to ensure they are making the most of tax-free savings as figures show that the number of ISA openings has halved this year.

Specialist lender and savings provider Paragon Bank has reached £7.5 billion in deposits, just six years after launching its range of saving accounts. 

Paragon is helping savers make the most of their tax-free savings allowance by introducing two new features across its Cash ISA range - ISA Flexibility and the ISA Wallet.

Paragon has picked-up the Best Multi-Channel Savings Provider category at the 2020 Savings Champion Awards.

Paragon is kickstarting 2020 by further expanding its savings range, introducing a Notice Cash ISA for savers.

Paragon Bank has introduced new competition to the Lifetime ISA market, launching a Cash Lifetime ISA (LISA).

Customers can now apply for a new 40 Day Notice savings account, allowing a balance between earning a competitive return on savings, whilst still being able to access them subject to 40 days’ notice.