Abbey highlights fixed-rate saver

Wednesday, 16 September 2009 12:00

Abbey is promoting its fixed-rate monthly saver, which offers four per cent interest, as the ideal way to build up a lump sum.

Customers are entitled to the rate provided they deposit at least £20 and no more than £250 per month, Abbey said.

The account is being flagged up as the savings provider unveils statistics showing savers are currently putting away, on average, £206 each month.

While this is an increase on the amount people were tucking away back in January, the figures also showed 40 per cent of Brits are still saving nothing at all.

Reza Attar-Zadeh, director of savings and investments, at Abbey, said it wasn't too late for people who did not have a savings plan to get into the habit.

"Putting aside even a small amount each month would quickly add up to help provide them with a safety net in today's difficult economic climate," he said.

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