Paragon Bank launches postal applications for savers

Paragon Bank has improved the way customers can apply for its saving range by introducing a postal application process for selected products.

The new service – which is perfect for savers who are looking for a competitive rate but prefer not to manage their savings online – is available across Paragon’s fixed rate savings accounts and fixed rate cash ISA product ranges.

Savers can deposit up to £500,000 across all of Paragon’s savings products.

In addition to the service, Paragon has expanded its funding window across all accounts, be it post or online, from 14 days to 28 days, giving all customers the opportunity to guarantee their rate for longer while they fund their account.

Richard Doe, managing director at Paragon Bank, commented: “Although we are an online bank, we recognise there is a large group of customers who still prefer to apply and manage their money offline.”

“We don’t feel these customers should miss out on our consistently competitive rates, which is why we have made the decision to launch with the same rates across our fixed rate savings range, giving customers more choice.”

He added: “This, along with the extended funding window of 28 days, has been a substantial step forward for us, which I’m sure will significantly broaden our appeal.”