Founded in 1985, Paragon is one of the UK’s leading specialist lenders with over 1.5 million customers.
Could one of its savings options be the right fit for you? Here’s a review of the options. Raisin UK makes it easier to apply for deposit protected savings accounts. Our savings service connects you with a range of banks and includes exclusive savings accounts and rates; all curated to help you earn more from your savings:
Grow your savings at Raisin UK
Raisin UK makes it easier to apply for deposit protected savings accounts. Our savings service connects you with a range of banks and includes exclusive savings accounts and rates; all curated to help you earn more from your savings:
Before we get into the nitty gritty of Paragon’s saving options, you might want to know a little bit more about the bank.
Based in Solihull, Paragon is relatively young as banks go. While the Paragon group was formed in 1985, it only launched as a full bank in 2014. Like many new kids on the banking block, Paragon is online-only. So you have to apply for an account through its website.
If you’re interested in the numbers, Paragon’s savings deposits reached £3.6 billion in 2017. Paragon is a FTSE 250 company with over £12 billion in assets.
A cash ISA (individual savings account) is a savings account where you don’t pay tax on the interest you earn, and there’s an annual limit to the amount you can put into an ISA which is set by the government.
Easy access cash ISA
Fixed-rate cash ISA
Fixed-rate savings accounts
Notice savings accounts
Paragon offers online banking through its website, but does not have a dedicated mobile app.
Here are some of the basic features of Paragon’s online banking service:
Paragon is covered by the Financial Services Compensation Scheme (FSCS), so your deposits are covered for up to £85,000 with Paragon. Paragon is authorised by the Prudential Regulation authority and regulated by the PRA as well as the Financial Conduct Authority.
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