Santander´s Fixed Rate Business Bonds are the perfect choice if you are looking for a guaranteed rate on an amount of money that your business can lock away for a period of time.
The interest rates are as follows-
The amount invested is to be a minimum of £ 1,50,000 and a maximum of £ 2,000,000, the gross rate is 2.50% and the AER is also 2.50%. The gross rate and AER rate are based on funds invested on 1st of December, 2010. Rates correct at 8th of November, 2010.
(AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off.)
The maturity dates are as follows-
As invested on 8th of November, 2010; it matures on 1st of December 2011 and the gross/AER assumes funds deposit on 1st of December 2010.
Bonds can only be opened with a bare minimum balance of £ 150,000 and have an upper limit deposit of £ 2 million. Trackers can be opened by customers with a minimum balance of £ 50,000 and have a maximum deposit of £ 150,000.For every Bonds and Trackers, a certificate will be issued after opening consisting of particulars of the opening balance, interest rate and maturity date. It is available to new and existing business customers who are shifting or paying in funds not held within the Santander Group at this moment (Including Alliance & Leicester, Cater Allen and cahoot).
Bonds are also at hand to customers who already have an existing Santander Business Bond that is maturing. This is a limited offer and subject to availability. Apply today as this offer can be withdrawn at any time.
I found it as an effective alternative to a savings account. It is really worth all the claims it has made. Everything stands true and transparent!
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