Raisin UK adds BNF Bank to Online Marketplace

Raisin.co.uk, the UK’s leading cash savings service, has added BNF Bank to its online marketplace – now with 24 savings partners for consumers to choose from.

BNF Bank p.l.c is a key player in the Maltese financial services sector and was named Malta’s Bank of the Year 2020 by The Banker published by the Financial Times. Recognised as one of the fastest-growing banks, it operates a network of branches in the Maltese Islands together with a branch in London. Available to open with deposits starting at £2,000 the bank has launched a 0.50% three-month fixed-rate deposit, fully FSCS protected, for Raisin UK customers.

Discussing the launch Kevin Mountford, Raisin UK Co-Founder, said: “With shorter-term fixed-rate deposit now offering near market-leading rates we have seen an increase in customers investing their savings into them, over the last four weeks. And with rates like the one offered by BNF Bank, it’s easy to see why.

“Consumers are now beginning to see the benefit of saving with smaller and challenger banks in order to maximise their savings – short term, fixed-rate deposits also offer a reprieve from easy accounts, providing the flexibility but also better rates.”

Giovanni Farrugia, Head of Treasury at BNF Bank, said: “We welcome this strategic collaboration with Raisin UK, which will see us offering deposit products to a new target segment, through their platform.”

To date, Raisin has brokered 39 billion Euros across Europe and has 385,000 customers across 31 European countries on seven platforms. With 114 partner banks, Raisin offers by far the largest variety of products and partner banks of all savings platforms and allows customers a wider choice and freedom of choice.