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05 January 2017

Masthaven wins ‘Most Innovative Savings Provider’ award

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Masthaven Bank is delighted to have won the Most Innovative Savings Provider category in the 2017 Moneynet Personal Finance Awards.

Commenting on the award, Andrew Hagger, Chairman of the Moneynet Awards Judging Panel, said:

“The results of the seventh annual Moneynet awards 2017 highlight the top personal finance providers and products from the last twelve months. It has been another fiercely competitive year for banks, building societies and card providers, but the judges felt that Masthaven Bank stood out in the ‘Most Innovative Savings Provider’ category and delivered excellent value and choice for the consumer. (Specifically, the Flexible Term saver where the consumer can chose their maturity date). Despite the low interest rate environment and uncertain economic conditions, there have been some top notch best buy products and Moneynet is pleased to recognise the top providers and innovators for their achievements.”

Jon Hall, Managing Director of Masthaven Bank, said:

“Masthaven is thrilled to receive this award. My thanks goes to the team who have worked so hard to design and create our savings product with such a fresh approach. Our Flexible Term Saver account challenges traditional savings product conventions by allowing customers to decide their own term. We hope it marks the start of a savings revolution that sees other providers think ‘customer’ rather than ‘product’ first.”

Masthaven’s Flexible Term Saver account challenges banking convention by allowing people to decide the date when their savings account matures. The combination of competitive rates and ease of use means savers can take advantage of a fixed term rate over a timeframe that suits their lifestyle.

Designed to help savers meet their short or long-term goals - whether that’s a holiday or wedding anniversary or a future event such as university fees or house deposit - customers can use a sliding scale to pick any date between six months and five years to create their personalised fixed term end date. They can also decide whether they prefer to receive interest annually or monthly.