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New BFC business bond goes top

New BFC business bond goes top

Category: Business
Author: Lieke Braadbaart
Date: 31/10/2018

BFC Bank has launched into the business savings market with some top-notch bonds, including a 12-month account which now sits easily at the top of the chart, earning it our highest Moneyfacts rating at the same time.

The basics…

The 12 Month Fixed Term Deposit Account 1 boasts a rate of 2.50% paid on maturity, which is the highest return by quite a margin. Meanwhile, BFC's six- and three-month alternatives, paying 2.00% and 1.76% respectively, also offer great appeal.

The finer details…

The 12-month bond requires a minimum deposit of £10,000. It can be opened by charities, client monies, estate agents, not-for-profit organisations, limited companies, public limited companies, pension fund managers and financial intermediaries. No access is allowed before the full year is up, so businesses will have to ensure they are happy with their chosen investment from the start. The account can only be opened by post, but then also managed over the phone.

Why we like it…

With a market-leading rate that is currently 0.48% above the nearest competitor, it's easy to see why this bond has earned its place at the top of the business savings Best Buys as well as its rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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