Santander has launched a new Loyalty Tracker Bond that leads the way in the variable rate savings market.
The variable rate fixed term branch and telephone operated account matures on 1 September 2010 and pays investors a yearly rate of 3.00% on a minimum investment of £10K.
The rate is guaranteed to be 2.50% above base rate until the account matures, while no early access or further additions are permitted.
This product is open to existing mortgage, investment and current account holders (who must deposit at least £1K per month) or new current account customers who switch their account, depositing at least £1K per month and have at least two direct debits or standing orders set up.
The Loyalty tracker is the top variable rate bond for such a term at present, although Moneyfacts.co.uk does not have a Best Buy table for this market.
In addition, Santander has also launched a new 1 Year Fixed Rate Bond that pays a yearly rate of 2.80% (2.76% monthly) on a minimum investment of £1.
No early access or additions are permitted.
Both products have been awarded four out of five Moneyfacts stars.
Click here to see more short term fixed rate bonds
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 Any products featured may be withdrawn by their provider or changed at any time.
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