RCI Bank today announces a rate increase for its easy access Freedom Savings account and its one year and three year Fixed Term accounts.

The Freedom Savings easy access account increases to 1.42%, while the one year Fixed Term goes up to 1.71% and customers opening a three year Fixed Term account will secure a rate of 2.36%.

All RCI Bank accounts can be opened by all UK residents aged 18 years and over. The Freedom Savings account requires a minimum balance of just £100 and a maximum of £1 million while those opening a Fixed Term account will need £1,000 minimum deposit. There are no penalties, notice periods, tiered rates, gimmicks or small print. While the call centre is based in the UK and available seven days a week, accounts can also be managed online giving customers the freedom to manage their own finances.

 “Today marks the third increase we’ve made to our three year Fixed Term interest rate this year, and it comes just a few months after we increased the rate on our two year Fixed Term account to 2.11%. With Christmas approaching, we’re reminded of the importance of saving throughout the year to fund the festivities and we hope our new interest rates for fixed and easy access accounts will encourage people to start the New Year with a plan to save hard and boost their nest eggs.”