Santander launches new fixed rate bonds deals

Santander launches new fixed rate bonds deals

Santander has introduced some new fixed bonds products.

Anyone with Santander savings may be interested in a new range of fixed rate bonds products launched by the financier last week (December 2nd 2010).

The lender has added to its range of fixed bonds with an array of new options, with deals including fixed rates with a gross annual equivalent rate of up to 3.55 per cent, available for either one or two years.

Meanwhile, for those savers eager to make the most of any potential future change in the country's base rate by the Bank of England, the building society has also introduced several products that track the Monetary Policy Committee's decisions and change accordingly.

Reza Attat-Zadeh, director of savings and investments at Santander, remarked: "Our new range of competitive fixed rate bonds is ideal for those savers looking for a fixed annual or monthly return."

This comes after the Skipton Building Society recently launched a new one-year e-bond product.

Meanwhile it became clear last month that consumers want more choice in the banking sector.

More than a third of British consumers would welcome more competition in the banking sector, giving them greater choice when it comes to opening a savings account and current account.

A YouGov survey carried out on behalf of Deloitte found that 32 per cent of people wished there were more banks to choose from, with 30 per cent stating they would open a savings account with a non-traditional lender.

The study revealed that 27 per cent of consumers would take out a credit card with a new entrant to the market, while 22 per cent would consider opening a current account with one.

Neil Tomlinson, head of retail banking at Deloitte, said: "Consumers are more likely to take out certain products such as savings accounts from new entrants but remain cautious about committing longer-term products such as mortgages."

The recent Santander Switching in the UK report found that just seven per cent of people have switched current account providers in the last year.

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