Santander announces new savings interest rates

Santander has announced it plans to launch a new issue of its tracker bond and loyalty tracker bond.

From September 2nd the company's tracker bond will be paying the best savings rate of 3.00 per cent gross AER.

The loyalty tracker bond offers an extra 0.25 per cent AER and is available to customers who already hold a current account, mortgage or investment account with the company or those willing to switch their current account.

The accounts track changes in the Bank of England base rate until October 2011 and will reflect the expected increase in interest rates to give customers the best savings interest rates possible.

Both accounts are available for savings from £10,000 up to a maximum of £100,000 and no withdrawals are allowed from the accounts during the term of the product.

Reza Attar-Zadeh, director of savings and investments, said: "With ongoing speculation on when interest rates will start to rise, our tracker bonds have been specifically designed to provide an assured return to savers".

Santander has a history of rewarding loyal customers as it made all 4,300 Santander ATMs in Spain free to use for all of its UK's current account customers.
 

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2010-09-01 12:36:31 © Moneyextra.com