Abbey savings for stay-at-home savers

Thursday, 29 October 2009 12:00

Abbey is promoting its savings accounts as it uncovers a new trend for staying in which is helping Brits save a collective £3.9 billion a month.

The average person, Abbey said, was saving £89 by swapping expensive high street services such as cinemas, pubs and restaurants for entertainment at home such as DVD rentals, dinner parties and takeaways.

Reza Attar-Zadeh, director of savings and investments at Abbey, said: "While it is great that people are saving over £80 per month by 'in-tertaining', we'd encourage them to ensure their money is working as hard as possible for them in a competitive savings account."

It has highlighted a selection of its savings products, such as its Fixed Rate Monthly Saver, as the ideal place to store the money kept aside through staying at home.

The savings account has an interest rate of four per cent, which is fixed for one year on deposits of between £20 and £250.

And for those people with a lump sum to store away, Abbey is promoting its Two-year Fixed Rate bond, offering 4.2 per cent interest for balances of £10,000 or more.

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