Scottish Widows savings accounts launched
www.moneynews.co.uk > Banking > Scottish Widows savings accounts launched
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Money News |
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Scottish Widows savings accounts launched
Wed 5th Nov 2008
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One of the two new products is designed for such customers as firms, sole traders, charities, clubs and societies, while the other is intended for the cash element of pension funds.
The Business Funds Deposit Account offers a 0.5 per cent bonus for six months, giving an initial rate of five per cent gross and a standard rate of 4.5 per cent gross thereafter.
In addition, there is the Pension Fund Deposit Account.
Richard Clark, head of product development and marketing at Scottish Widows Bank, said that both accounts give "very competitive interest rates and with easy access provide flexible savings solutions for businesses and pension fund trustees".
Scottish Widows has also strengthened the rate on its E-Cash Isa.
A bonus of 1.5 per cent will be paid for the first 12 months, giving an initial annual equivalent rate of six per cent, tax free.
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