Product News - Moneyfacts

Product News

New business savings account 23rd September 2016

Manchester BS has launched a new 45-day notice business account, which has entered the Best Buy chart for its sector and earned itself a high Moneyfacts rating in the process.
The basics… The 45 Day Notice Business Saver pays out a variable rate of 1.00% yearly, earning it a place in the top-10.
The finer details… This account has an investment limit of £75,000 upon a minimum deposit of £10,000. It can be opened and managed by post or in branch. Early access is not allowed, but additions by cheque or via a nominated account are possible, as are withdrawals.

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Bank of Cyprus still means business 24th August 2016

Bank of Cyprus has reduced rates across its range of business accounts. Despite this, its one-year bond and flexibond maintain their places in the charts.


The basics… The one-year Business Bond now pays out a rate of 1.30% while the Business Flexibond now has a rate of 1.20%. These rates allow both accounts to comfortably maintain their positions among their peers.


The finer details… Both bonds require a minimum £10,000 investment. They have to be opened at a branch or by post, and can then be operated by post and online.
The business bond does not allow withdrawals or additions, but does have an up to 0.20% cashback donation incentive.


For the flexibond, additions are not allowed either, but unusually for this sector withdrawals are: penalty-free access to 30% of the deposit is accepted, subject to 35 days' notice. It has an up to 0.10% cashback donation incentive.

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1-yr business bonds keep chart place 21st April 2016

Aldermore has reduced the rates paid on select business savings accounts by up to 0.25%; however, its one-year deals have proved their staying power by retaining chart places.

The basics…Fixed Rate Business Savings Account – 1 Year and the one-year version of Customised Fixed Rate Account now both pay a competitive rate of 1.50% on maturity (1.49% monthly), enabling them to sit just behind the current market-leaders.

The finer details…Both accounts must be opened online but they can then be managed either online or by phone. Business owners are allowed to make further additions for up to 14 days after an account has been opened but early access to funds is not permitted.

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1-yr business bond stays in the top 10 15th April 2016

United Bank UK has reduced the rates paid on selected business bonds, but its one-year deal has proved the strength of its competitiveness and remained among the top 10 accounts of its sector.


The basics…

1 Year Fixed Deposit Business Account now pays a still-competitive rate of 1.30% yearly (1.29% monthly), enabling it to retain a coveted chart position.


The finer details…

This account can be opened and operated by business owners either in branch or by post. An initial investment of at least £2,000 is required.

Additional deposits are not permitted, but there is the potential of closing the bond early, provided permission is given by the manager and a 90-day loss of interest penalty is paid.

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1-yr business bond heads into the charts 21st March 2016

United Bank UK has increased the rates paid on its fixed bonds by up to 0.53%. One of the accounts to benefit is the one-year business bond, which has secured a comfortable place in the charts as a result.

The basics…1 Year Fixed Deposit Business Account now pays an attractive rate of 1.65% on maturity (1.64% monthly), enabling it to take a stand among the top accounts of its sector.

The finer details…This branch and postal-operated account requires an initial investment of at least £2,000. Business owners are not allowed to make additional deposits, but they can close the fund early, subject to the manager's discretion and the loss of 90 days' interest.

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Business bond stays in the charts 15th March 2016

Bank of Cyprus UK has reduced the rate paid on its one-year business bond, but despite this, it has managed to keep its prized place in the Moneyfacts charts thanks to its ongoing competitiveness.

The basics...The one-year version of Business FlexiBond now pays an attractive rate of 1.35% on maturity, a top-10 rate for its term.

The finer details…This account can be opened and operated in branch and by post with an initial investment of at least £10,000.

Further additions are not permitted, but unusually, penalty-free access to up to 30% of invested funds is allowed on the provision of 35 days' notice, giving business owners some desirable flexibility. As an added incentive, a cashback donation of up to 0.10% can be made.

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Business bond is still near the top 15th February 2016

Julian Hodge Bank has slightly reduced the rate paid on its one-year business bond. However, its ongoing competitiveness and appeal have ensured that it has kept its coveted place on the Moneyfacts charts.

The basics…The one-year version of Capital Millennium Bond now pays an attractive 1.65% yearly (1.64% monthly), which enables it to rest comfortably in the charts.

The finer details…This account can be opened and operated in branch, by post and by phone with an initial investment of at least £1,000.

Additions are welcome while the issue remains open, but early access prior to maturity is not permitted. Business owners must therefore be happy to lock their non-personal savings away for the full length of the one-year term.

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Business notice account stays in the top 10 05th February 2016

Hampshire Trust Bank has reduced the rate paid on its business notice account; however, it has remained in the Moneyfacts charts thanks to its ongoing competitiveness and appeal.

The basics…

120 Day Business Notice Account 3 now pays a variable rate of 1.35% yearly, which remains the top rate for its term.

The finer details…

This account must be opened and operated by post with a minimum deposit of £5,000.

Business owners are welcome to make further additions at any time and an unlimited number of withdrawals can be made. However, early access is not possible, so 120 days' notice must always be provided.

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Business account gets noticed 01st February 2016

Cambridge & Counties Bank has revamped its business portfolio and launched a brand new notice account onto the market, which has taken a prized position in the Moneyfacts charts thanks to its highly competitive terms.

The basics…45 Day Notice Business Savings Issue 1 is a variable rate account that pays 1.30% yearly (1.29% monthly), a top-10 rate for its terms, allowing it to comfortably take a place among its leading competitors.

The finer details…This account requires a minimum investment of £10,000 and can be managed online, by post or by phone (all transactions must be made via a nominated current account). It permits further additions at will as well as unlimited withdrawals, provided the 45-day notice period is adhered to, as earlier access won't be allowed.

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Business bond retains chart place 06th January 2016

Hampshire Trust Bank has reduced the rate paid on its one-year fixed rate business bond, but thanks to its continued competitiveness, it has maintained its place in the Moneyfacts charts.

The basics…1 Year Business Fixed Rate Bond Issue 3 now pays a competitive rate of 1.80% on maturity, a top-10 rate for its sector.

The finer details…This account must be managed by post with a minimum investment of £5,000. Additional deposits and withdrawals prior to maturity are not welcomed, so business owners must ensure that they are comfortable with the sum they are locking away.

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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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