A&L launches 9-month fixed-rate business bond
Alliance & Leicester (A&L) has launched a new nine-month fixed-rate bond aimed at small and medium sized businesses.
The Business Bond pays interest at 2.81% AER (2.80% gross), and matures on 1 March 2010.
SMEs with savings between £50,000 and £2 million can open the bond online, on the telephone, or in branch.
The bond will be available for a limited time whilst funds last.
Ceri Henfrey, A&L’s head of business banking, said: “Alliance & Leicester Business Banking is committed to helping SMEs maximise their business potential.
“This new Business Bond is a great way for business owners to make the most of their surplus cash.”
Interest on the bond is paid on maturity.
Last week, the Bank of England voted to hold the Bank Base Rate at 0.5% for the third month in a row.