Abbey Guaranteed Income Bond launched

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Abbey Guaranteed Income Bond launched

Tue 28th Jun 2005

A second issue of the Abbey Guaranteed Income Bond (GIB) has been launched, offering what the company promises is a competitive rate for investors.

The Abbey GIB has a guaranteed fixed income of 3.8 per cent per annum net, equivalent to 4.75 per cent gross per annum.

It has a guaranteed capital return after four years and can be paid in monthly, quarterly or annual income payments.

Abbey says that its GIB would be ideal for retired people who want to draw an income from their savings, since it provides customers with the security of a regular income.

The Abbey GIB requires a minimum investment of £5,000, and applications close on August 4th 2005.

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