Hampshire Trust Bank launches fixed rate bond to bolster business tax planning
Businesses looking to maximise their tax year financial planning can take advantage of a new bond from Hampshire Trust Bank, which is offering a new-to-market 30-month term.
Those taking it out this month are set to benefit from a 2.2% AER, and their money will be freed up come March 2018, just before the start of the new 2018-2019 financial year.
The account bolsters the bank’s expansion into business savings, with a further three accounts also available. Those looking to take advantage of the new the bond are required to invest a minimum of £5,000.
Stuart Hulme, head of savings, said: “We expect strong demand for our new 30-month business bond. It gives SMEs the chance to save at a great rate today, safe in the knowledge that when the product matures it will do so ahead of a new financial year which we hope will appeal to those with cyclical financial planning cycles.
“We know that many of the UK’s small businesses keep money in their cash accounts for day-to-day cashflow management, but for those with cash sitting in current accounts, a business savings account can deliver a return on investment that can help their business grow. Our market-leading bond amplifies the Hampshire Trust Bank approach – we offer very competitive rates of interest consistently, and provide straightforward products to our business customers.”