Award winning digital savings bank, RCI Bank, today announces rate increases on its two year and three year fixed term accounts.

The two-year fixed account rate has risen to 4.90% AER Gross (4.79% Gross variable paid monthly) and the rate on the three-year fixed rate account has risen to 4.65% AER Gross (4.55% Gross variable paid monthly).

All RCI Bank accounts can be opened by UK residents aged 18 years and over and the Fixed Rate Savings Accounts require a £1000 minimum deposit. While the call centre is based in the UK and available seven days a week, accounts can also be managed online and via the RCI Bank app, offering customers the freedom to manage their own finances.

Lewis Elliott-Smith, Head of Savings, at RCI Bank: “We are pleased to offer an increase in the rates on both our two- and three-year fixed term accounts today. In this trying economic climate, we understand the importance that we continue to embody our commitment to providing savers with rewarding rates and simple products. Our fixed term accounts offer an opportunity for those who are keen to save for the slightly longer term – providing a great rate and the knowledge that the money you’ve put away is working hard for you in the background.”