Abbey unveils new savings bonds
Tuesday, 05 January 2010 12:00
Abbey is launching a range of new fixed-rate bonds which pay up to 4.1 per cent interest annually.
The bank, which is also providing the new savings products through Alliance & Leicester, said the bonds were ideal for people looking for a guaranteed income.
Among the range is a one-year bond which offers a rate of 2.5 per cent per annum for savers with between £1 and £9,999 to invest. Customers with £10,000 or more will receive a rate of three per cent.
There is also an 18-month bond which offers rates beginning at three per cent for savers with lower balances, 3.3 per cent for those with more than £10,000 and 3.6 per cent for balances of £25,000 plus.
The headline 4.1 per cent rate is available on the two-year bond for customers with £25,000 or more to invest. Rates of 3.5 per cent and 3.75 per cent are available for people with lower balances.
Reza Attar-Zadeh, director of savings and investments at Abbey, said: "With rates of up to 4.1 per cent available, this latest range offers competitive returns.
"However, rates are available for a limited time only and may be withdrawn without notice, so we would encourage people to open one without delay."
The bonds will be available from tomorrow.
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