Distribution Finance announces first personal savings products
Distribution Finance announced on Wednesday that its subsidiary DF Capital Bank has launched its first line of personal savings products, which would feature in the ‘best buy’ tables of three saving rate aggregators.
The AIM-traded firm said it launched a one-year fixed-rate account at 1.18% AER, and a 90-day notice account at 1.12% AER.
It said it was expecting to launch 18-month and two-year fixed-rate products shortly.
“We are excited to launch these personal saving products to the wider market following a period of product testing and exclusive promotion,” said chief executive officer Carl D'Ammassa.
“We are delighted with the feedback we have received and feel confident that our highly automated and online application process will prove relevant to UK savers who are looking for competitive rates and excellent service from their bank, with the added assurance of the Financial Services Compensation Scheme to protect their savings up to £85,000.”
At 1221 BST, shares in Distribution Finance Capital Holdings were down 1.85% at 53p.