Cynergy Bank launches range of Business Fixed Rate Bonds, paying up to 4.20% for 1 year
Cynergy Bank has today launched its new Business Fixed Rate Bond, offering a competitive 4.20% Annual Equivalent Rate (AER) over a one-year term. Designed to support SMEs that want their money to work harder for them, the product offers various terms with guaranteed rates of return. Full list of terms below.
Business customers can deposit between £10,000 and £1,000,000, with the interest rate fixed for the full term. Eligible deposits are protected up to £120,000 under the Financial Services Compensation Scheme.
Account holders can manage their money through Cynergy Bank’s Mobile Banking app and Online Banking platform, giving customers a seamless and secure digital experience.
Cynergy Bank is redefining business banking with a growing range of tailored financial solutions designed to meet the needs of modern businesses. By combining technology with a personal touch through its ‘human digital’ approach, Cynergy Bank is challenging traditional banks and supporting scale-up SMEs on their path to growth.
The Business Fixed Rate Bond complements Cynergy Bank’s Business Current Account and Business Saver Account – both paying 3.50% AER a month.
Sharon Maguire, chief operating officer of Cynergy Bank, said: “We know every business is unique, so our extended range of banking and savings accounts have been designed to offer the flexibility, digital servicing and competitive rates that business owners are looking for.
“Our new Business Fixed Rate Bond offers guaranteed returns for eligible businesses looking for certainty over a term that suits them.”