Alliance & Leicester 12-month business bond unveiled

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Alliance & Leicester 12-month business bond unveiled

Alliance & Leicester, which is owned by the Spanish banking group Santander, has revealed that it has introduced a new 12-month business bond into to its portfolio.

The limited-edition account, which is available to all firms with a turnover of up to £1 million, has a fixed interest rate of 3.20 per cent gross per annum, maturing on July 1st next year.

It is available to enterprises with savings between £50,000 and £2 million and can be opened via telephone or in-branch.

"Alliance & Leicester Business Banking is committed to helping SMEs maximise their business potential and this new Business Bond is a great way for business owners to make the most of their surplus cash," explains Ceri Henfrey, head of business banking at Alliance & Leicester.

Alliance & Leicester will re-brand as Santander in late 2010, while Abbey and Bradford & Bingley will make the change during the first quarter the year.

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