Metro Bank products miss best buy tables

Laura Miller
clock

Metro Bank, the first high street bank to launch in the UK for a century, opens its doors today but none of its products have made it onto best buy tables.

It promised to revolutionise the British banking experience through offering retail opening hours, unparalleled service and a simple range of products that will be suitable for everyone. But none of the mortgage and savings products launched today was competitive enough to make it on to the best-buy tables, while many paid below the industry average, the Telegraph reports. These include an instant-access savings account offering a return of just 0.5%, compared with a best-buy rate of 2.8%, as well as a three-year fixed rate bond paying only 3%, significantly below the market leading r...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read
More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read