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MBNA unveils first ever savings product offering 5% return on cash – is it any good?

February 16, 2024

Via: MoneyWeek

Lloyds Bank owned MBNA has stepped foot in the savings space for the first time today (16 February) with the launch of a one-year fixed-term account.

MBNA, traditionally known for its credit card offering was acquired by Lloyds in 2016, and will offer savings for the first time, offering a competitive 5% AER on its one-year fixed saver.

Darren Tong, savings director at MBNA, said this is the first time MBNA has launched a savings product.

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