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.
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.
Why we like it…
Business owners on the hunt for a short-term home for their non-personal savings are likely to still look upon this deal with favour. It continues to pay a competitive rate and offers a monthly interest option, which will appeal to those who want to receive a regular income. In addition, there is the potential for accessing funds early, albeit subject to discretion and an interest penalty.
Moneyfacts rating: Excellent
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