Cater Allen launches competitive new term deposit

Cater Allen, part of the Santander Group, has launched a new two-year fixed-rate deposit for personal clients looking for the best savings rates.

The new deposit pays a highly competitive rate of 3.5 per cent gross/AER and is available to new and existing customers.

Customers can open the account with a minimum deposit of £50,000 and can choose to have their interest paid out annually or at maturity, and interest will be paid gross as the product is a qualifying time deposit.

Jackie Brown, head of banking and savings at Cater Allen, said: "Our new two-year term deposit is designed to appeal to clients looking for a fixed rate of interest and the security offered by a guaranteed return."

Cater Allen believes that the high competitive rate of 3.5 per cent will make the new deposit account very popular with new and existing customers.

The new term deposit, which is available until December 31st, does not allow withdrawals or further deposits during the term.

Cater Allen has a long and respected financial history dating back to 1816 and was acquired in 2004 by Santander.
 

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2010-11-10 14:11:26 © Moneyextra.com