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New 'Business Saver' account launched by Teachers Building Society

Jul 25, 2011

Teachers Building Society has launched ‘Business Saver’, a flexible 25 day notice account paying up to 2.0% gross/AER variable.

The minimum opening balance is just £5,000 and the higher the balance, the higher the interest rate.

Alan Gravett, head of sales and marketing at Teachers Building Society, says “Our new ‘Business Saver’ offers great rates of interest for businesses that seek a good return on money they can put away for a while. Many business accounts on the market provide poor returns or demand a very long notice period for withdrawals. We’re confident that the ‘Business Saver’ from Teachers will be very competitive.”

Product details:

Current rates of interest:

  • £1,000 - £4,999 – 1.0% gross/AER
  • £5,000 - £19,999 – 1.5% gross/AER
  • £20,000 - £39,999 – 1.6% gross/AER
  • £40,000 - £349,999 – 1.75% gross/AER
  • £350,000 and above – 2.0% gross/AER

 

  • Minimum opening balance of £5,000. Maximum initial deposit is £700,000.
  • Higher interest for higher savings
  • No interest charges for withdrawals following 25 days' written notice
  • Withdrawals without notice - charge equivalent to 25 days' gross interest on the sum withdrawn
  • Interest paid at the end of December

To find out more about savings products available from Teachers Building Society, call 0800 783 2367 or click here.