Tandem adds fixed savings accounts

Tandem, the U.K. challenger bank founded by fintech veteran Ricky Knox, has rolled out its second banking product today with the addition of fixed term savings accounts. The new offering enables customers to get a guaranteed interest rate if they deposit their money with Tandem over one, two or three years, and follows the launch of the Tandem credit card in February.

The fixed savings product itself looks pretty competitive and pits Tandem against a whole host of incumbent and challenger banks. The interest rate starts at 1.8 percent for a one year deposit, all the way up to 2.3 percent if you commit to three years. A minimum of £1,000 must be deposited.

As a comparison, Atom bank currently offers 2.15 percent for a three-year fixed saver and only matches Tandem…

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