News Article Published:
Tuesday, 04 November 2008
Category:
Financial Services
A deposit account specifically aimed at businesses has been launched by Scottish Widows.
The company is offering a bonus for firms who sign up to the Business Funds Deposit Account early in an attempt to increase interest in the product.
A 0.50 per cent bonus will be provided for the first six months from November 3rd, which will provide an initial rate of 5.00 per cent gross, falling to 4.50 per cent afterwards.
The company said in a statement that the account was aimed at businesses, charities and professional companies, among others.
At the same time as announcing the launch of the savings account, Scottish Widows' financial services division also unveiled its Pension Fund Deposit Account.
The company's head of product development and marketing, Richard Clark, said: "We are delighted to launch these two new accounts into the market.
"Both accounts offer very competitive interest rates and with easy access provide flexible savings solutions for businesses and pension fund trustees."
As a final sweetener, the company guaranteed that the accounts' standard rate would never be less than 0.25 per cent under its base rate until the end of 2012.
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