Union Bank of India (UK) Ltd has increased selected business savings rates by up to 0.20%, which sees its one-year fixed business bond greatly improve its position in the Best Buy chart for its sector, earning a high Moneyfacts rating in the process.
The one-year business Term Deposit now boasts a competitive rate of 1.30%, paid on maturity, making it the joint market-leader for its sector.
This account requires a minimum investment of £1,000. Additions and withdrawals are not allowed, with an earlier closure penalty being at the discretion of the bank, so companies (see opening restrictions for approved businesses) must ensure they are happy to part with their funds for the full length of the term. The account has to be opened and operated in branch.
This bond's joint market-leading rate is more than enough to earn it a high place in the Best Buys as well as a high rating, offering a competitive choice for businesses.
Moneyfacts rating: Excellent
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