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New business accounts storm the charts

New business accounts storm the charts

Category: Business
Date: 15/05/2015

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 It is now over 6 months old so the content may be out of date.

Hampshire Trust Bank has unleashed a 100-day business notice account and one-year business bond onto the market, securing them both positions on the Moneyfacts charts for their competitive terms.

The basics…

100 Day Business Notice Account pays a competitive 1.50% yearly, earning it a place among the top 10 accounts of its sector. Meanwhile, 1 Year Business Bond pays 1.65% on maturity, which also earns it a comfortable place on the charts.

The finer details…

Both accounts must be opened and operated by post with an initial investment of £5,000 up to a maximum of £250,000.

The notice account permits further additions at any time but does not allow early access to funds. Business owners will therefore need to always give 100 days' notice before making a withdrawal.

The bond allows neither further additions nor access to funds prior to maturity, meaning savers must be happy with the level of investment and length of the term from the beginning.

Why we like them…

Both of these accounts offer business owners attractive interest rates, which should appeal to those who are looking for decent returns on their investment. However, neither account allows early access to funds, so careful planning is required to abide by each account's restrictions.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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