One UK-based firm has recently announced the launch of a new business bank account product, giving cheer to companies currently in the search for an alternative to their current business banking arrangements.
Santander-owned private business savings account provider Cater Allen has announced its launch of a new deposit designed specifically for firms. The deposit, which runs for a two-year term, carries a three per cent gross annual equivalent interest rate.
Carrying a minimum deposit requirement of £50,000, the new account is available to both new and existing Cater Allen clients. An additional benefit of the new business bank account is that customers will have the capability of choosing the most flexible option in regards to receiving their interest, as Cater Allen is offering to pay any accrued interest either on an annual or a monthly basis.
Cater Allen’s banking and savings head Jackie Brown released a statement in conjunction with the new offering, stating that the new account had specifically been designed in such a way to carry a broad appeal. The Cater Allen executive also stated that since the product offers both the security of a guaranteed return and the certainty of a fixed interest rate, it will most likely become a very popular new financial offering for businesses.
In related news, an announcement was made in the past few weeks that firms that have business accounts with either NatWest or the Royal Bank of Scotland can now gain access to their products at any branch of the Post Office in the UK.
One of the leading specialist banks in the UK, Cater Allen offers a range of innovative business bank account solutions and is fully backed by its membership in the Santander Group of financiers, one of the largest and most profitable and secure across the globe.