Abbey launches 3.2% business bond

Abbey launches 3.2% business bond

Abbey Business this week launched two new bonds paying up to 3.2% interest and aimed at SMEs.

The bonds, available to businesses with a turnover of up to £1 million, are available for business savings between £50,000 and £2 million.

The 12 month Fixed Rate Business Bond pays 3.2% gross pa/AER, maturing on 1 September 2010.

The 9 month Fixed Rate Business Bond pays 2.8% gross, and matures on 1 June 2010.

Abbey said the bonds are designed to help SMEs “maximise their business potential”.

“These new Business Bonds are a great way for business owners to make the most of their surplus cash,” said Paula Ickinger, Abbey Business product executive.

“Businesses can also be safe in the knowledge that their savings are securely held with one of the world’s largest banks.”

Money currently held in any UK Santander-owned bank cannot be deposited into the bonds.

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