Silk Bank offers a term deposit that pays a fixed rate over a set period, plus an on-call deposit for flexible access and an increasing deposit for savers who add funds over time. A certificate of deposit is also available.
Customers can open deposits through internet banking from anywhere, without visiting a branch.
What's good
- Multiple deposit formats (term, on-call, increasing)
- Openable online without a branch visit
Trade-offs
- Rates not published on homepage
- Term deposits lock funds for the period
