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Bank of Cyprus still means business

Bank of Cyprus still means business

Category: Business
Date: 24/08/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

Why we like them…

These bonds may have had their rates cut slightly, but this in no way dampens their attractiveness. Due to appealing features and still-competitive rates, these bonds comfortably keep their top-10 standing and Moneyfacts rating.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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