Abbey launches new bond
www.moneynews.co.uk > General finance > Abbey launches new bond
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Money News |
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Abbey launches new bond
Thu 31st Jul 2008
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Deposits between £1 and £29,999 will bring in 6.35 per cent per year, while those ranging from £30,000 to £2 million will collect interest at 6.75 per cent.
Bonds are available from August 4 to August 31 and subject to availability.
Reza Attar-Zadeh, director of savings and investments at Abbey, said fixed-rate savings bonds are "proving exceptionally popular in the current market".
Meanwhile, large investors are losing out on guaranteed bond rates, according to Baronworth (Investment Services).
The company said that guaranteed bond rates have stayed the same over the last week, except for investments of £100,000, which have fallen.
It added that many investors are opting to invest in guaranteed bonds, accepting lower rates but knowing that there is an uncapped level of compensation in the case of a problem.
This is instead of investing with several different deposits in order not to exceed the £35,000 limit imposed by the Financial Services Compensation Scheme.
Related News : General finance |
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Related News : Santander |
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