New savings option launched by Abbey

Santander-owned Abbey has announced a new one-year savings option for people wanting to put money away during this period of economic uncertainty.

Customers can enjoy an interest rate of 7.01 per cent on amounts between £30,000 and £2 million that are invested into Abbey’s one-year fixed-rate bond, it said.

Launching today (Wednesday), the high street bank stated that the bond is “strictly limited” with bonds maturing on July 1st 2009.

Director of savings and Investments at Abbey Reza Attar-Zadeh noted that the present financial climate suits savers.

“The current environment for savers is exceptional. This is the highest rate available on the high street for a one-year bond,” he said.

Abbey added that the offer is suited to those searching for a fixed-rate of interest.

Last week, Steve Urwin, senior marketing executive at Newcastle Building Society, urged consumers to save their money in accounts offered by building societies.

© Adfero Ltd

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