Banking News Alliance & Leicester Offers Limited Edition Fixed Rate Business Bond 3300
Alliance & Leicester offers limited edition fixed rate business bond
08 May 2009 / by Rachael Stiles
Banks are currently trying to lure savers with the incentive of fixed rates, knowing that they will currently be suffering the effects of a dramatic fall in interest rates in recent months.
The Alliance & Leicester Business Bond offers business customers the opportunity to get guaranteed returns on their savings, with a rate fixed at 2.81 per cent for nine months.
While the majority of economists now predict that the Bank of England will not cut the base rate again – after it voted to keep it at 0.5 per cent for the third consecutive month yesterday – it is not expected to raise them anytime soon, which is likely to translate to the banks taking a similar stance.
Maturing in March 2010, the A&L; business bond accepts deposits between £50,000 and £2million, but does not allow withdrawals or any further deposits during the term.
Commenting on the new bond, Ceri Henfrey, head of business banking at Alliance & Leicester, said: “Alliance & Leicester business banking is committed to helping SMEs maximise their business potential and this new Business Bond is a great way for business owners to make the most of their surplus cash.
“This is a limited opportunity to invest anything from £50,000 to £2,000,000, and savers can get a guaranteed fixed rate, which is significantly above the current Bank of England base rate,” she added.
Apply online for the Alliance & Leicester Business Bond
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