Abbey savings accounts reissued

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Abbey savings accounts reissued

Abbey has announced the launch of new issues of two of its popular savings accounts, which it hopes will help customers to "kick-start" their savings in the New Year.

The new offerings are reissues of its Fixed-Rate Monthly Saver account and its Super Fixed-Rate Monthly Saver account, both of which offer "competitive" rates of interest, according to the bank.

Customers opening a one of the new fixed-rate accounts will receive interest of five per cent provided they deposit between £20 and £250 per month into the account via standing order and make no withdrawals for twelve months.

If they wish to upgrade to the 'super' account, which pays interest of seven per cent, customers must also take out one of Abbey's pension, investment or personal protection plans.

Reza Attar-Zadeh, director of savings and investments at Abbey, said: "In a falling interest rate environment savers are urged to lock in while they can."

The Bank of England is expected to cut interest rates again today, following cuts in November and December last year.

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