Abbey launches 8.1% super bond
Friday, 01 Jun 2007 17:35
Abbey has unveiled a new Super Bond - offering 8.1% on fixed-rate savings if customers put an equal amount or more into Abbey’s tax-efficient Guaranteed Growth Plan, or other growth investment.
The product combines a high rate for one-year growth deposits in the Guaranteed Growth Plan are invested for the longer term (three or 5.5 years).
Interest is calculated daily on the Abbey Super Bond with no interest penalty if you need to close the bond early.
The Abbey Guaranteed Growth Plan guarantees the capital you invest will be returned with minimum return of 9% over a three-year period or 23 per cent over a 5.5-year term. The minimum investment is £1,500.
"This product has been designed to help customers save for their future in a tax efficient manner at great rates," said Reza Attar-Zadeh, head of savings and investments at Abbey.
"It pays 8.1% on the one-year Super Bond and offers customers the potential for higher returns through investing in the stock market, while guaranteeing their capital and a minimum return. The 8.1% mirrors that on our recent Super ISA, which continues to be available.
"This product is an ideal way for customers to diversify their savings and for those wary of the stock market to take their first step into investing."