Cater Allen Deposits
Highly Competitive Rates on Savings Bonds and Term Deposit Accounts
From March 11th 2009, Cater Allen Private Bank has launched a limited edition Savings Bond offering two and three year fixed terms, with highly competitive rates.
Alongside this, interest rate increases have been applied to all Term Deposit accounts, particularly their 12 month Term Deposit, meaning that in a market where it’s currently difficult to get a return on your clients’ saved funds, Cater Allen are now offering savers attractive 1, 2 and 3 year savings propositions. All with the peace of mind that comes from the fact that deposits are 100% guaranteed by Abbey, and the backing of parent company Santander.
Interest rates are payable at maturity and fixed as follows:
3 Year Savings Bond: Gross Interest Rate paid at maturity for tier £5,000 to £50,000 = 12.00%; £50k to £250k = 12.50%; £250k to £1m = 12.75%; £1m+ = 12.85%
2 Year Savings Bond: Gross Interest Rate paid at maturity for tier £5,000 to £50,000 = 7.50%; £50k to £250k = 7.85%; £250k to £1m = 8.00%; £1m+ = 8.15%
1 Year Term Deposit: Minimum Investment = £50,000. Interest rates change daily. (For example, on 13.03.09, the current rate for the top tier of £1m+ = 4% gross). Visit www.caterallen.co.uk/interestrates for more details.
Please note, if your clients wish to take advantage of these products, they are available for a limited time only and will be withdrawn when fully subscribed.
The savings bond, for the two and three year terms, also offers a withdrawal opportunity on the account opening anniversary. Withdrawn funds will be subject to reduced interest rates, but all remaining funds still qualify for the original rate, even if the reduced balance changes the tier your client’s savings fall into.
IFA commission is available on the Savings Bonds at a rate of 0.10% pa.
For more information visit www.caterallen.co.uk or call Neil Jackson, National Account Manager, Cater Allen Private Bank on 07920 531678.