Bank of Cyprus UK launches competitive online account paying 1.05%

New top payer beaten only by Yorkshire and Britannia – but savers still lose out to 2.3% inflation

The Bank of Cyprus has launched an online savings account paying 1.05%, making it one of the top-paying instant access accounts currently available.

While many savings accounts are paying a paltry 0.15%, the Bank of Cyprus’s rate of 1.05% relies on a bonus – a variable underlying rate of 0.6% (which could be reduced) plus a bonus of 0.45%, fixed for the first 12 months.

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