Swedish challenger bank Ikano Bank has entered the UK savings market by introducing its first savings account in Britain.
The fixed three-year saver account will offer savers 2.55%. Savings held in the new account will be protected through the Swedish Deposit Insurance Scheme for up to EUR 100,000 per person.
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Consumers can manage the accounts online, and can apply for and deposit their savings into the account in as quickly as five minutes.
Ikano Bank UK country manager Dan Joy said: "We’re launching with a simple, gimmick-free savings account at a competitive rate. It really is as simple as that.
"Ikano Bank’s Fixed Three Year Saver account is just the beginning. In 2016, we’ll be increasing the number of savings products that we offer and introducing a simple, great value personal loan."
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