Santander launches upfront interest bond

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Santander launches upfront interest bond

Savers may be interested to learn that financial services provider Santander has launched its new Upfront Interest Bond.

The product allows customers to receive £1,000 in interest for every £12,000 they deposit into their account, providing them with a fast return on their investment.

It is being launched on December 20th and has a minimum initial deposit of £10,000 offering from 3.36 per cent gross AER, with interest to be paid into accounts from January 3rd 2012.

Matt Hall, head of savings at Santander: "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."

Santander also recently announced the launch of its Issue 7 Bond, which is an inflation-linked product ensuring that should rates go up, then savers will be able to see a significant return on their investments, with minimum deposits of £500.

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