Abbey and Alliance & Leicester launch business bonds

Thursday, 03 September 2009 12:00

A range of one-year fixed rate bonds have been launched for business customers by Abbey and Alliance & Leicester.

The bonds, which offer interest rates of three per cent, are available for firms with a turnover of up to £1 million.

A minimum balance of £50,000 is required to open the bonds and no more than £2million can be deposited during the 12 month investment period.

Sue Hayes, head of business banking at the banks, said the bonds provided a way for small and medium businesses to ensure they were getting a good return on any surplus funds.

She added: "Our previous fixed rate bonds have proved very popular and this is a limited opportunity to invest with a guaranteed fixed rate, significantly above the Bank of England base rate."

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