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Standard Life launches fixed rate bond

Standard Life Bank has launched a three-year, fixed-rate bond which guarantees a 5.75 per cent payout.


The bond, which is launched on July 5, has a minimum opening balance of £1,000 and a maximum of £1m.


Customers will be able to open the bond over the telephone, but the bank expects the majority of its business to come from IFAs.


The launch coincides with Standard reducing the rate on its Direct Access Savings account by 0.25 per cent.

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