Close Brothers Savings Premium Gold fixed rate deposit account
Close Brothers Savings, part of specialist financial services group Close Brothers, has this week launched a new Premium Gold fixed term deposit account paying a fixed rate of 4.00% AER. The rate is fixed for 3 years with interest paid annually and at maturity with a minimum investment of £10,000. Applications received with funds for this new account will be accepted from 8 May. This is a limited offer, subject to availability.
Close Brothers Savings believes that given the likelihood of a continued low Bank of England Base Rate, savers will continue to look for a safe haven for their cash. Close Brothers Group has a strong capital position with a core tier 1 ratio of 12.3% and total capital ratio of 14.0% (at 31 January 2012).
Gail Johnson, Close Brothers Savings said, “Currently a rise in the Base Rate and savings rates in general remain a distant prospect with forecasters talking about late 2014 or early 2015 before the Bank of England’s Monetary Policy Committee increases rates.
“Expectations of rate rises fluctuate, but savers have already seen more than 3 years of historically low rates and experience has taught them that in order to earn higher returns on their cash they need to lock into fixed term accounts.
“Accounts offering a guaranteed competitive fixed rate provide peace of mind and certainty at a time of unprecedented economic and market volatility.”
The launch of the new account builds on continued high demand for Close Brothers Savings’ range of products. To apply for the new Close Brothers Savings Premium Gold account, visit closesavings.co.uk.
Andrew Hagger, PR & Communications Manager, Moneynet said, “Close Brothers has built up a reputation for delivering highly competitive fixed term savings products and this latest three year offering is no exception, topping the best buys at 4.00%.
“Savers are desperate to get the best returns they can in the current difficult market conditions so it’s essential that new deals such as Premium Gold product keeps the pressure on rival providers and prevents rates from drifting lower.”