Cater Allen launches new term deposit

Cater Allen, part of the Santander Group, has launched a new two-year term deposit for personal clients, paying a highly competitive 3.50 per cent gross/AER.

The rate is fixed and is available to both new and existing clients who have a minimum deposit of £50,000. Clients can choose to have their interest paid out annually or at maturity, and interest will be paid gross as the product is a qualifying time deposit.

The new term deposit, which is available until 31 December, does not allow withdrawals or further deposits during the term.

Jackie Brown, Head of Banking and Savings at Cater Allen, said: "Our new two-year term deposit is designed to appeal to clients looking for a fixed rate of interest and the security offered by a guaranteed return. Paying a highly competitive rate of 3.50 per cent, we expect this new term deposit to be extremely popular with clients. Furthermore, all Cater Allen deposits are fully and unconditionally guaranteed by Santander UK plc."

To apply, clients should speak to their financial adviser or visit caterallen.co.uk/toptier to download an application form.