Julian Hodge Bank has increased the rate paid on its one-year business bond by 0.15%, enabling it to improve its position on the Moneyfacts charts.
The one-year business version of Capital Millennium Bond now pays 1.90% yearly (1.88% monthly), allowing it to sit comfortably among the top accounts of its sector.
This account can be opened and operated in branch, by post or by phone with an initial deposit of at least £1,000.
Further additions can be made while the issue remains open, but early access to funds is not permitted. Business owners must therefore be comfortable locking their money away for the full term.
An alternative version for personal savings paying the same rate is also available.
Business owners looking for a short-term home for their non-personal savings are likely to be intrigued by this latest rate increase. The fact that it also offers a monthly interest option further enhances its attractiveness and will appeal to those who are looking to earn a regular income. However, the lack of early access does mean that business savers must be happy to invest for the full length of the one-year term.
Moneyfacts rating: Excellent
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