Abbey launches new business bond
www.moneynews.co.uk > Banking > Abbey launches new business bond
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Money News |
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Abbey launches new business bond
Wed 15th Apr 2009
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The new product, launched by Abbey's business banking division, is a limited edition, nine-month fixed-rate business bond, paying interest at a rate of 2.81 per cent, which matures on February 1st 2010.
It will be made available for businesses with savings of between £50,000 and £2 million.
Paula Ickinger, product executive at Abbey Business Banking, said: "With the Bank of England base rate at an all time low, Abbey's new business bond provides certainty of return for business savers."
Earlier this month, the Bank of England announced that it would leave the base rate untouched, having reduced it by at least 0.5 per cent for the last six months.
This decision may in turn persuade high street banks not to reduce their savings account interest rates.
Click here for more banking news
Related News : Banking |
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