Paragon Bank

Paragon Bank is a part of the Paragon Banking Group and is one of the UKs largest providers of mortgages and personal loans.

Founded in 1985 as the National Home Loans Corporation, it is listed on the London Stock Exchange and is a member of the FTSE 250.

Based in Solihull, Paragon offers savings accounts, mortgages and loans.

Paragon Bank
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Savings Accounts

Ranked 23rd of 50 providers reviewed.

Customer happiness 64.94%
Customer trust 55.58%
Complaints performance 66.01%
Transparency rating 75.73%
Fairer Finance score
Reviewed Autumn 2022		 66%

Notice Savings Accounts

Up to 180 Day Notice Accounts

Paragon Bank

120 Day Notice Account - Issue 25

Interest Rate (AER) i 2.9%
Part of FSCS i
Notice Period 120 days
Minimum Opening Balance i £500.00
Maximum Balance i £500,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Early withdrawals allowed? i
Withdrawal Penalty i Withdrawals can be made via nominated account

Savings Accounts

1 Year Fixed Rate Accounts

Paragon Bank

1 Year Fixed Rate Savings Account

Interest Rate (AER) i 4%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £500,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Paragon Bank

Raisin UK - 1 Year Fixed Term Deposit

Interest Rate (AER) i 4%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £85,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

18 Month Fixed Rate Bonds

Paragon Bank

Raisin UK - 18 Month Fixed Term Deposit

Interest Rate (AER) i 4%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £85,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Paragon Bank

18 Month Fixed Rate Savings Account

Interest Rate (AER) i 4%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £500,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

2 Year Fixed Rate Accounts

Paragon Bank

Raisin UK - 2 Year Fixed Term Deposit

Interest Rate (AER) i 4.35%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £85,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Paragon Bank

2 Year Fixed Rate Savings Account

Interest Rate (AER) i 4.35%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £500,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

3 Year Fixed Rate Accounts

Paragon Bank

Green 3 Year Fixed Rate Savings Account

Interest Rate (AER) i 4.35%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £500,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

5 Year Fixed Rate Accounts

Paragon Bank

5 Year Fixed Rate Savings Account

Interest Rate (AER) i 4.35%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £500,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Easy Access Accounts

Paragon Bank

Triple Access Savings Account - Issue 12

Interest Rate (AER) i 0.75%
Maximum Balance i £500,000.00
Part of FSCS i
Withdrawal Penalty i
Additional Information i
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Paragon Bank

Easy Access - Issue 12

Interest Rate (AER) i 2%
Maximum Balance i £500,000.00
Part of FSCS i
Withdrawal Penalty i
Additional Information i
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Paragon Bank

Raisin UK - Easy Access Account

Interest Rate (AER) i 2%
Maximum Balance i £85,000.00
Part of FSCS i
Withdrawal Penalty i
Additional Information i
Minimum Opening Balance i £1,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Savings Accounts (ISAs)

1 Year Fixed Rate ISAs

Paragon Bank

1 Year Fixed Rate Cash ISA

Interest Rate (AER) i 3.6%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you no later than 15 days before the maturity date. However, if they receive no further instruction they will move the funds into an easy access cash ISA.
Part of FSCS i
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

18 Month Fixed Rate ISAs

Paragon Bank

18 Month Fixed Rate Cash ISA

Interest Rate (AER) i 3.85%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you no later than 15 days before the maturity date. However, if they receive no further instruction they will move the funds into an easy access cash ISA.
Part of FSCS i
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i Existing Customers Only
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 120 days interest
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

2 Year Fixed Rate ISAs

Paragon Bank

2 Year Fixed Rate Cash ISA

Interest Rate (AER) i 4.15%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 180 days interest
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

3 Year Fixed Rate ISAs

Paragon Bank

3 Year Fixed Rate Cash ISA

Interest Rate (AER) i 4.15%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 270 days interest
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Easy Access ISAs

Paragon Bank

Easy Access Cash ISA - Issue 11

Interest Rate (AER) i 2%
Part of FSCS i
Withdrawal Penalty i
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Paragon Bank

Triple Access Cash ISA - Issue 12

Interest Rate (AER) i 0.75%
Part of FSCS i
Withdrawal Penalty i If less than 4 withdrawals are made per year a higher rate will be paid
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Lifetime ISAs

Paragon Bank

Cash Lifetime ISA - Issue 3

Interest Rate (AER) i 2.5%
Part of FSCS i
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Withdrawal Penalty i Withdrawals are charged at 25%
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i
Additional Information i 39