Call us on 0330 123 9860 to see how we can help
Our Fixed Rate Business Bond comes with
The facility to save up to £5 million
A fixed rate of 3.60%
Eligibility
- You have at least £10,000 to deposit in the account
- You must be able to leave your funds untouched for the fixed term
- Your business is registered in the UK
- You have up to two directors, owners (shareholders) or partners
- You must be an existing Santander Business customer
- All directors, owners (shareholders) or partners are aged 18 or over and UK residents
- You're a sole trader or your business is a partnership, limited liability partnership or a private limited company
- You intend to use the account for business purposes only
Account name
1 Year Fixed Rate Business Bond
What is the interest rate?
| Term | Maturity date | Interest rate |
|---|---|---|
| 1 Year | 01/01/2025 | 3.60% AER/gross (fixed) |
AER is based on funds deposited by 1 January 2024. If you deposit money after this date, the interest you get may be less than this.
You can also see the interest rate and maturity date on your bond certificate. We’ll give this to you after you’ve opened the bond.
We work out the interest we’ll pay on your account each day. We’ll pay interest into your bond on the:
- 1st of the month after you have opened the bond
- maturity date.
If the maturity date is a non-working day, we’ll hold your money until the next working day. We’ll pay interest at 1.05% AER/gross (variable) from the maturity date.
Can Santander change the interest rate?
No, the interest rate is fixed during the term.
What would the estimated balance be after 12 months based on a £10,000 deposit?
| Term | Interest earned | Balance at the end of term |
|---|---|---|
| 1 Year | £360.00 | £10,360.00 |
To work out the estimated balance, we’ve assumed that:
- The account is opened and the initial payment into the account is made on the 1st day of the month.
This illustration is only an example and doesn’t take into account your individual circumstances.
How do I open and manage my account?
Opening
Business Bonds are only available to existing customers.
You can apply:
- By calling us on 0330 123 9860.
Managing the account
You can manage the bond by post or by using Telephone Banking.
Paying money in
- Minimum balance: £10,000.
- Maximum balance: £5 million.
Once the bond has been opened, you must pay money in electronically in pounds sterling. This can either be:
- from another business account you have with us
- an account you have with another provider. If you pay money from another provider, you must send this by CHAPS (your provider may charge you for this).
Once you’ve paid money in to open the bond, you can’t pay in any more.
Can I withdraw money?
No. You can’t take money out during the term.
At the end of the term
You can choose what you want to do with the money in your bond before the term ends. We’ll contact you with more details on your options, including your new interest rate, before the term ends. If we don’t hear from you, we’ll transfer your account to a Business Bond Maturity Account. Your account number will stay the same.
Additional information
Tell us if you change your mind
You can’t cancel the bond once it’s been opened. But, in exceptional circumstances (for example, if the account administrator dies), we may allow you to close the bond before the end of the term.
Tax status
We pay interest without taking off income tax. This is known as ‘gross’ and the interest rate we give you reflects this.
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The Fixed Rate Business Bond is subject to availability and may be withdrawn from sale at any time without notice. Rates and information correct as at 4 December 2023.
Everything you need to know before you apply
We recommend reading the information in the documents below before you apply. You may want to save or print them so you can refer to them in the future.
- Business Bonds Key Facts Document (pdf) (63 KB)
- General & Terms Conditions (pdf) including Terms of Business (266 KB)
To view these documents, you may need to download Adobe Reader
Security
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For more information about our approach to security as well as more useful information to help you stop the threat of fraud visit our Security Centre