Fixed rate bonds supplier Santander hails tracker products

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Fixed rate bonds supplier Santander hails tracker products

Santander has unveiled two new tracker bonds and suggested they could be a prudent savings option if the base rate goes up in the future.

Director of savings and investments at the organisation Reza Attar-Zadeh described how the loyalty tracker bond and tracker bond will ensure that any increases in the base rate are reflected in the return customers receive.

He said: "With ongoing speculation on when interest rates will start to rise, our tracker bonds have been specifically designed to provide an assured return to savers."

The loyalty tracker bond - which is available to individuals who have a current account mortgage or other investment with the firm - offers a rate of 3.25 per cent on top of the base rate, while the tracker bond adds three per cent on to the figure.

Decisions are taken monthly as to whether the base rate should be maintained at its current level or altered, with the next vote due to take place on September 9th.

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