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 one-year version of Business FlexiBond now pays an attractive rate of 1.35% on maturity, a top-10 rate for its term.
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.
Business owners looking for a competitive home for their non-personal savings are likely to eye up this deal thanks to its competitive rate and surprising flexibility – the option to access a portion of funds without charge, albeit upon notice, gives this deal a definite boost in the attraction stakes and firmly secures its place in the charts.
Moneyfacts rating: Excellent
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