The new business savings account is available to businesses with a turnover of up to £1million, and is due to mature in July 2010. Customers will be able to save between £50,000 and £2million into the business account, and can apply online, over the telephone or in branch.

However, the Alliance & Leicester Business Bond will only be available for a limited period, so A&L; is urging businesses to snap it up.

Commenting, Ceri Henfrey, head of business banking at Alliance & Leicester commented: “Alliance & Leicester Business Banking is committed to helping SMEs maximise their business potential and this new Business Bond is a great way for business owners to make the most of their surplus cash.

“This is a limited opportunity to invest anything from £50,000 to £2,000,000, with a guaranteed fixed rate, which is significantly above the current Bank of England base.

“Business can also be safe in the knowledge that their savings are securely held with one of the world’s largest banks,” she added.

Alliance & Leicester is soon to become one with Abbey and Bradford & Bingley since Spanish banking giant Santander announced its plans to lose the brand names as of next year.

Find out more about the Alliance & Leicester Business Bond and apply online today

© Fair Investment Company Ltd