Teachers Building Society has launched a one-year fixed rate business bond onto the market, gaining a coveted place on the Moneyfacts charts thanks to its competitive rate and terms.
Business Bond Issue 4 pays a competitive rate of 1.50% yearly until 27.9.16, enabling it to take a spot among the top 10 accounts of its sector.
This account must be opened and operated by post with a minimum investment of £10,000.
Unusually for the fixed rate market, this account allows further additions at any time by cheque and bank transfer. Early access to funds, however, is not permitted, so business owners must be prepared to lock their money away for the entire one-year term.
Business owners looking for a short-term home for their non-personal savings are likely to view this account with interest thanks to its top-10 rate. The fact that it allows further additions is also highly appealing, lending some welcome flexibility. However, the inability to make withdrawals before the end of the term does mean that business savers must be happy to leave their money invested until the account matures.
Moneyfacts rating: Excellent
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