Abbey Business Banking has launched a market leading Time Deposit with a rate of 2.6 per cent, with a six month term.

Available to new and existing Abbey Business Banking account holders, the deposit will offer the opportunity for customers with a turnover of £1 million or less, who are paying in funds from outside Abbey to make the most of their money.

Sue Hayes, Head of Abbey Business Banking said: “With interest rates falling we wanted to offer our customers a safe and profitable way to save their money. This product allow SMEs to safely invest their funds in the short term, with the bonus of market leading growth over six months.

“Abbey Business Banking is committed helping SME’s maximise their business potential, offering free banking forever alongside a range competitive products.”

Abbey Business Banking has launched a new limited edition nine month fixed rate Business Bond, at a rate of 2.80 per cent gross pa (2.81 per cent AER), maturing on 1 February 2010.

This new Business Bond is available for business savings of between £50,000 and £2 million, and is strictly limited – it will only be available whilst funds last.

Paula Ickinger, product executive at Abbey Business Banking commented: “With the Bank of England base rate at an all time low, Abbey’s new Business Bond provides certainty of return for business savers. This is a limited opportunity to invest anything from £50,000 to £2,000,000, and savers will get a guaranteed return which is significantly above the current bank base rate.

“Abbey Business Banking is committed to helping SMEs maximise their business potential, offering free banking, alongside a range of great products.”

The features of this account include:

• An interest rate of 2.80 per cent gross (2.81 per cent AER) fixed over the term of the bond
• Interest payable on maturity, on 1st February 2010
• Minimum balance £50,000
• Maximum of £2,000,000

This product is a strictly limited offer and is available for money currently held outside Abbey.