Paragon Bank deposits hit £1 billion

The bank has also attracted more than 25,000 customers to its online only service, with 3,000 opening second accounts.

In a recent survey of Paragon Bank customers, 92% rated communications from Paragon Bank as being ‘good’ or ‘very good’, and 85% said they would consider another savings account with the bank.

Richard Doe, Managing Director at Paragon Bank, said:

“From a standing start last year we've hit a key milestone in the journey of Paragon Bank. We now have a significant presence in the savings market, being the savings provider of choice for more than 25,000 savers. Our best buy listings, survey results and a growing proportion of secondary account openings by existing customers, make us incredibly proud that we're delivering to expectations. We look forward to continuing our straightforward approach and consistently competitive rates throughout 2016.”