Scottish Widows launches new business savings accounts

Scottish Widows Bank has launched a new Business Funds Deposit Account. From 3 November a bonus of 0.50% will be available on the new Business Funds Deposit Account for 6 months, giving an initial rate of 5.00% gross / 4.75% AER (variable). Thereafter, the standard rate will be 4.50% gross / AER (variable).

This new business savings account is designed for companies, partnerships, sole traders, charities, associations, clubs and societies, professional firms and clients' accounts and offers a rate that competes with the best in the market.

PENSION FUND DEPOSIT ACCOUNT

Scottish Widows Bank has also launched the Pension Fund Deposit Account. With a very competitive interest rate of 4.75% gross / AER (variable), this account is designed for the cash element of pension funds whether part of a SIPP or SSAS fund.

Both accounts offer a fantastic opportunity for businesses to maximise the return on their funds, all from an organisation which is part of the Lloyds TSB Group, which has one of the highest credit ratings in the UK.

Scottish Widows Bank also guarantees that the standard rate on these accounts will never be lower than 0.25% below their Base Rate until 31/12/2012.

Richard Clark, Head of Product Development & Marketing at Scottish Widows Bank commented: "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."

For more information, visit scottishwidows.co.uk