Abbey stepped rate bond launched

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Abbey stepped rate bond launched

Mon 19th Dec 2005

A new Abbey stepped rate bond has been launched, promising customers a gross rate of up to five per cent per annum.

The bond, which comes with a term of 21 months, has fixed interest rates that will step up from 4.3 per cent to 4.6 on October 2nd 2006 and on to a final five per cent on April 2nd the following year.

Alexia Kilby, head of savings marketing, said that the new Abbey stepped rate bond combined good returns with a 100 per cent guarantee on customers' money.

"With a fixed rate of interest that increases during the term of the bond, customers know exactly what they're getting back on their money," she said.

The Abbey stepped rate bond will only be available until January 10th.

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