Santander banks launch new bonds

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Santander banks launch new bonds

Santander's UK banking brands have launched a series of new bonds which they claim offer customers a "competitive guaranteed return".

The bonds, which will be available from branches of Abbey, Alliance & Leicester and Bradford and Bingley, include the offer of a fixed-rate Monthly Saver.

This provides a fixed rate of four per cent gross interest for the duration of its one-year term, provided no withdrawals are made.

If customers choose to make one withdrawal, the rate of interest they will gain falls to 3.67 per cent.

All three banking brands will also offer fixed-rate bonds paying 3.5 per cent gross interest on balances of more than £25,000.

Bradford and Bingley is also launching a separate fixed-rate offering which provides a gross interest rate of 3.8 per cent for a period of three years.

Santander is one of the world's largest banking groups. It has more than 90 million customers and operates over 14,000 branches in 40 countries.

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