Clydesdale Bank: New savings rates

Thursday, 03 December 2009 12:00

Savers looking for a home for a lump sum can take advantage of rates of up to 5.1 per cent with Clydesdale Bank's Term Deposit account.

The bank has launched new rates on the savings bond, which is for customers who do not want to make withdrawals or additional deposits and have a minimum of £2,000 to invest.

Savers who want to tuck their cash away for up to three months, the shortest-term account on offer, can earn a rate of 1.25 per cent AER.

There are six-month, 12-month and 18-month accounts with rates of 1.6 per cent, 3.2 per cent and 3.45 per cent respectively.

And savers who want to invest for longer periods can take advantage of a 3.5 per cent two-year account, a 4.25 per cent three-year plan or the five-year product, which offers interest of 5.1 per cent AER.

Steve Reid, retail director for Clydesdale Bank, said: "Our best rate is available on our Term Deposit account which is ideal for those who want to invest for a longer term and don't wish to make any additional withdrawals or deposits."

Accounts with annually capitalised interest are also available for the 12-month, two-year, three-year and five-year plans. These allow interest to be added to savings accounts every anniversary year.

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