Get up to 3.3% return on your savings
The high street banks aren't giving any decent rates on their savings accounts, so where can you go to make money now?
Some of the smaller, specialist banks are offering better rates, but be aware,
there is risk attached.
AgriBank is one such place. They offer a rate of 2.7% for a fixed term deposit of 3 years and a 3.3% for a fixed term deposit of 5 years which are much better than high street rates.
AgriBank lends exclusively to UK agriculture. Your funds are secured on agricultural machinery and farming equipment and they are covered by the Maltese Depositor Compensation scheme which means, should the
bank fail, there will be a rescue fund.
However, it is not covered by the Financial Compensation Scheme (the British backing that covers the first £85,000 of your savings if your bank fails).
So if you go for this attractive deal, make sure you are happy with the Maltese scheme first.