Jersey-baed Santander Private Bank has sharpened its deposit interest rate offering saying it's responding to the "abnormally low interest rate environment" that has seen UK base rate remain stuck on its record low of 0.5% for nearly three years.
Santander has launched a portfolio of sterling fixed rate contracts over varying terms from six moths to five years to attract the attention of both corporate clients and professional intermediaries. The bank claims that by fixing interest rates it’s offering investors the added advantage of knowing what return they can expect over a given period of time. Its new suite of accounts have rates set as follows: fixed deposit contracts at 4.15% gross/AER on deposits over £100,000 for five years. Three and two year deposits at 3.65% gross/AER and 3.55% gross/AER respectively on similar opening...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
