SHAWBROOK Bank has launched a new 5 year bond offering a top of market fixed rate of 3% Gross/AER.
In a far from bullish market, the challenger bank is proving its commitment to savers.
James Blower, Director of Savings at Shawbrook Bank said: “We recognise that it has been a challenging market for depositors and we are delighted to be able to help hard pressed savers by offering this market leading bond which delivers on our commitment to customers of consistently competitive rates.”
Savers can invest any amount from £5,000 to a maximum of £2m with the interest paid either gross or net according to an individual’s tax status.
Since the launch of Shawbrook Bank in October 2011 it has continued to offer a number of consistently competitive fixed-rate bonds and notice accounts for both individuals and small businesses.
In June the bank launched a 5 year bond paying 2.9% Gross/AER which has accounted for 35 per cent of its new business so far this month, illustrating the appetite for longer-term competitive savings opportunities.
Later this year, it will be launching internet banking for personal customers making it even easier to manage individual savings.
Shawbrook, a British bank, is a savings and lending specialist that offers SMEs and individuals a no-nonsense alternative to the high street.
Deposits from Shawbrook savers are used to fund credit worthy SMEs and individuals in the UK.
For further information please visit www.shawbrook.co.uk.