Santander has launched a new tracker bond that guarantees to pay 4% more than the base rate until late 2011.
The Super Tracker Bond is a variable fixed term branch operated account that matures on 1 September 2011, with a minimum investment of £10K paying 4.50% yearly.
No early access or further additions are permitted, and the rate is guaranteed to be 4% more than the base rate until maturity.
In addition, clients must invest an equal amount or more of new funds in any qualifying Santander product (Premium and Portfolio investments as well as capital guaranteed investments, excluding Child Trust Funds) at the same time.
An instant access savings account must be held or opened to allow transactions.
For an investor happy to invest the same amount in a qualifying product, the 4.50% rate of interest will appeal, although they should be aware of withdrawal restrictions for both products they take.
Because of the linked nature of the Super Tracker Bond, it does not appear in the Moneyfacts Best Buy tables.
It is, however, well worth four out of five Moneyfacts stars.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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