Afin Bank launches Five-Year Fixed Rate saver “Best Buy”

Digital bank offers FSCS protected Five-Year Fixed Rate account at 4.55% AER/gross

Afin Bank has launched a Five-Year Fixed Rate savings account paying 4.55% AER/gross, designed for people looking for a guaranteed long-term return on their money during the current economic uncertainty.

The digital bank now has a line up of three fixed rate savings accounts, all of which are FSCS protected. They include:

• Five-Year Fixed Rate account paying 4.55% AER/gross
• Two-Year Fixed Rate account paying 4.41% AER/gross
• One-Year Fixed Rate account paying 4.35% AER/gross

All the accounts are opened and managed via Afin’s mobile app, enabling customers to view all their accounts in one place, so they can see how their savings grow on a daily basis. Afin also has a dedicated UK based customer services team offering online and telephone support.

All the Fixed Rate accounts can be opened with a minimum of £1,000, up to a maximum balance of £200,000*. Savers can continue to add funds for up to 14 days from the date the account was opened. Interest is calculated daily and is paid annually, either into the savings account or a nominated bank account.

Jason Oakley, Chief Executive Officer for Afin Bank, said: “Our new Five-Year Fixed Rate account now means Afin offers a range of easy to manage accounts that give people complete control of their savings and a choice of great interest rates depending on how much access they want to their money.”

Customers can download the Afin Bank mobile app from the Apple and Google app stores, or by clicking the link on the bank’s website at www.afinbank.com/savings. Once the app is installed customers can quickly open their chosen account.

Afin Bank is backed by parent company WAICA Reinsurance Corporation Plc (WAICA Re), one of the largest reinsurance companies in Africa. It offers a range of residential and buy-to-let mortgages in England and Wales, as well as FSCS-protected savings accounts.

For more information about Afin Bank visit www.afinbank.com follow it on LinkedIn and @AfinBankUK on X and Instagram.

ENDS

Contact Paul Beadle: email Paul.Beadle@afinbank.com or mobile 07801 105001

Notes to editors

*Savers will be able to save up to a maximum total balance of £200,000 across all their Afin savings accounts. The FSCS (Financial Services Compensation Scheme) protects savings deposits up to £85,000 per person, per authorised firm.

Afin Bank is a new bank designed to support some of the UK’s most underserved customers, such as diaspora communities living and working in the UK, or borrowers like the self-employed.

Banking can be complex, so we’re making it simple. Our mission is to cut out the complicated stuff to deliver simple products and service excellence to make banking effortless.

If you’re planning to buy a home or grow your savings, Afin Bank is here for you to achieve your goals. We provide a simple and secure banking experience to deliver real value that empowers you.