Launch of Cater Allen Private Bank fixed-rate bonds announced

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Launch of Cater Allen Private Bank fixed-rate bonds announced

Private bank Cater Allen has launched three new fixed-rate bonds available for those who are considering putting aside some spare cash for the future.

The new range includes a 3-year fixed-rate savings bond, which requires a minimum deposit of £5,000, offers a gross rate of 3.25 per cent in the first year, 4.25 per cent for during the second and 5.25 per cent in the third.

A further bond, the two-year fixed-rate example, offers an AER of 3.70 per cent for funds between £5,000 and £50,000, with a high of 4.5 per cent on deposits of £1 million plus.

Also available are nine and 12-month bonds - their AERs being 2.31 per cent and three per cent respectively should the customer invest between £50,000 and £250,000.

Cater Allen, which was founded in 1816 in Blackburn, doubled the size of its operations in 1994 when it acquired Tyndall Bank and has since been purchased by Santander.

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