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Santander launches fixed-rate bonds

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by David Masters
Santander launches fixed-rate bonds

Santander’s high street banks have launched a range of new fixed-rate bonds paying interest at up to 4.1%.

The bonds, available through Abbey, Bradford & Bingley, and Alliance & Leicester, can be opened by new and existing customers with a minimum deposit of £1.

The one year bond pays interest at 2.5% gross per annum/AER for investments up to £9,999, and 3% on investments over £10,000.

Savers looking for the headline rate of 4.1% will need to deposit at least £25,000 into a two year bond.

“These bonds could be ideal for those savers looking for a guaranteed fixed income, knowing exactly what return they will receive,” said Reza Attar-Zadeh, Santander’s director of savings and investments.

He added that the bonds will only be available for a “limited time” and encouraged customers to open one “without delay”.

In related news, lovemoney.com said savers opening a bond benefit from “higher returns” than those who put their savings into a variable rate account.

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News posted: January 8, 2010

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