Abbey accounts 'competitive'

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Abbey accounts 'competitive'

Consumers looking to accumulate their funds might be able to benefit from an interest rate increase in Abbey's super monthly saver account.

The Abbey account now provides existing customers with a rate of ten per cent, although savers will have to make 13 consecutive monthly payments of between £20 and £250 to qualify for the package.

To qualify for the Abbey account, consumers need to already hold one of the group's accounts, to be over 16 years old and to open the package at an Abbey branch.

Reza Attar-Zadeh, head of savings at Abbey, said: "Abbey is committed to rewarding both loyal and new customers and this means we now have an excellent offer for both new bank account customers – the eight per cent current account and existing bank customers."

He added: "We believe this is a very attractive incentive that will galvanise customers to save more for the future."

The group has also announced that it is increasing the rate on its fixed-rate monthly saver by a quarter point to 7.25 per cent.

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