Santander opens business savings bonds

Friday, 11 September 2009 12:00

Santander has launched two new savings bonds for business with turnovers over £1million.

The corporate banking arm of the organisation is offering interest of two per cent on the new fixed-term deposit accounts for existing current account holders or new customers who open a Corporate Reward Current Account.

Rates for the six and nine-month bonds will be 1.4 per cent and 1.6 per cent respectively for non-current account customers.

Steve Pateman, head of corporate and commercial banking, said: "With interest rates at a historic low and many business experiencing very challenging trading conditions, Santander's new corporate bonds provide valuable additional income and a safe home for deposits."

A minimum of £100,000 is required to open the bonds and no more than £10 million can be deposited per customers.

Early withdrawals are not permitted.

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