Abbey's new fixed-rate savings
Monday, 13 Oct 2008 12:41
Abbey has unveiled a range of new savings accounts which offer guaranteed return on money deposited.
The fixed-term savings accounts are aimed at customers who want to lock their cash away for a set period of time.
The range includes a Fixed Rate Bond which allows savers to lock their cash in for one, two or three years at a variety interest rates of between 4.08 per cent per annum and six per cent per annum.
There is also a 50+ Bond for customers aged 50 years and above who are looking for a regular income for their savings.
The account is being offered for a fixed term of three years and interest is guaranteed at a gross annual rate of 5.15 per cent /AER and a net rate of 4.12 per cent per annum.
According to Abbey this bond reflects its commitment to the over-50s market and complements its instant access 50+ Saver account.
Abbey is also unveiling its Children's Savings Bond, for the under-18s. It offers a guaranteed fixed rate over a term of four years at a gross rate of 6.20 per cent per annum AER or at a net rate of 4.96 per cent per year.