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Rate rise on Bank of Cyprus business bonds

Rate rise on Bank of Cyprus business bonds

Category: Business
Date: 22/03/2017

Bank of Cyprus UK has increased rates by 0.15% across a selection of its business bonds. The one-year fixed Business Bond and FlexiBond subsequently maintain a position in the top 10 Best Buys of their sector.

The basics…

The one-year Business Bond now pays out a rate of 1.25% on maturity, while the Business FlexiBond now has a rate of 1.20% on maturity. The Business Bond also offers a monthly interest option paying a lower rate of 1.20% gross (1.21% AER).

The finer details…

Both bonds require a minimum £10,000 investment (the monthly version of the Business Bond has a higher minimum deposit requirement of £50,000) and must be opened in branch or by post. They can then be operated by post and online.

The Business Bond does not allow further additions or early access, but it offers up to 0.20% as a cashback donation incentive.

For the FlexiBond, additions are again not permitted, but withdrawals are: penalty-free access of up to 30% of the deposit is accepted, subject to 35 days' notice. It also offers up to 0.10% as a cashback donation incentive.

Why we like them…

These business bonds from Bank of Cyprus UK are highly appealing in their sector, and the FlexiBond will appear as a unique option for investors looking for a fixed return as well as some access to their initial deposit. Thanks to the rate rise these bonds comfortably keep their Best Buy position and are deserving of the high 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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