New Santander savings bond offers cash upfront
Wednesday, 23 November 2011 04:32
Santander has announced the launch of a new savings bond that offers customers interest upfront.
The bank's Upfront Interest Bond gives customers £1,000 net interest for every £12,000 they save - and if they open an account before December 20th 2011, this will be paid on January 3rd 2012.
Santander pointed out this could help people to pay off their Christmas spending, or simply provide some bonus cash to take to the January sales.
On a deposit of £12,000, the gross AER is fixed at 3.36 per cent.
For new accounts starting on January 1st, the term will mature on New Year's Day in 2015.
Matt Hall, head of savings at Santander, said: "Our revolutionary new Upfront Interest Bond is proving popular with customers wanting more control over their money, allowing them to spend or save the upfront interest however they choose."
The financial services provider also recently recommended its Inflation Linked Savings Bond (Issue 7) for people who want to make the most of their money as inflation rises.
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