Santander banks launch 4.2% bond


Abbey, Alliance & Leicester, and Bradford & Bingley have announced the launch of a new two-year fixed-rate bond paying interest at 4.2%.

Savers can open the bond with an investment of between £10,000 and £2 million.

Any withdrawals incur a penalty of 120 days interest.

The bonds can be opened by visiting any branch of the Santander-owned banks, or online at or

Reza Attar-Zadeh, Santander UK director of savings and investments, said: “With the backing of Santander, as one of the world’s largest banks, savers have peace of mind and confidence when saving with us.” warned that savings rates “may have peaked”.

“This could be as good as it gets in the short-term,” the price comparison website said.

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