Paragon hikes its double easy access savings rate to market-leading 5.05%

Paragon Bank ups the rate on its double easy-access savings account for the second time, making it a market-leading 5.05%- but you will need to act fast to bag the top rate

Dice with percentage signs on them
(Image credit: Getty Images)

Paragon Bank has hiked the rate on its new double easy-access account for the second time already since its launch on 28 July, from 4.75% AER to a market-leading 5.05% AER. 

The account allows savers to withdraw money twice a year, although if a third withdrawal is made, the rate drops to 1.5%. 

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Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.