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 7th Aug 2008
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The fixed-rate, one-year bond by Abbey pays investors up to 6.75 per cent and is a limited offer subject to availability.
Investments of £1 to £29,999 can be made for 6.35 per cent per year, or from £30,000 to £2 million for the top rate.
Reza Attar-Zadeh, director of savings and investments at Abbey, said that fixed-rate deals "are still in demand as savers look to lock in attractive rates".
According to online bank cahoot, a division of Abbey, savers are 0.6 per cent better off since the start of the credit crunch a year ago.
It found that the average best buy one-year fixed-rate bond was 7.11 per cent.
Average instant access rates are 3.32 per cent and average best buy instant access rates are 6.51 per cent.
Matthew Timms, managing director of cahoots, said: "Few of us will be celebrating the anniversary of the credit crunch but it's clear that savers have been the winners with rates hitting the seven per cent mark in recent months."
Related News : General finance |
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Related News : Santander |
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Related News : Cahoot |
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