New one-year fixed-rate savings bond at Santander

High street bank Santander has announced plans to launch a new best-buy one-year fixed-rate savings bond.

The lender says the account, designed for customers bringing in money from outside Santander, will help consumers lock in for a competitive return.

However, the bank stresses that the bond is a limited offer that is due to be withdrawn on June 30th.

Should demand for the new product be high and available funds used up, then the offer may be withdrawn at an earlier stage without notice.

Reza Attar-Zadeh, director of savings and investments at Santander, said that with the Bank of England's base rate remaining at an all time low, savers are having to make their money work harder than ever before.

"This latest one year offering will help savers to maximise returns without the need to lock their money away for the long term," she stated.

Earlier this week, Santander's director of mortgage marketing Phil Cliff claimed that the bank remains committed to providing cheap mortgages to first-time buyers.

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2010-06-18 13:53:10 © Moneyextra.com