Abbey Guaranteed Income Bond launched

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www.moneynews.co.uk > General finance > Abbey Guaranteed Income Bond launched

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Abbey Guaranteed Income Bond launched

The Abbey Guaranteed Income Bond has been introduced with a market-leading rate after the bond that it replaces proved to be popular with customers.

With an interest rate of 4.32 per cent a year net - 5.40 per cent gross AER - the Abbey Guaranteed Income Bond offers the best deal on the high street, according to research undertaken by Moneyfacts.

The two companies nearest to offering a bond with an interest rate similar to Abbey are AIG Life and Cardiff Pinnacle, with rates of 3.95 and 3.85 per cent respectively.

Pak Chan, Abbey's head of marketing for investments and long-term savings, said: "Abbey remains committed to bring some of the best products and services to savers.

"Customer demand has been high in 2006 for the Guaranteed Income Bond and we expect this new launch to appeal to people looking for capital security at maturity and the certainty of a regular income for the next four years"

To take advantage of the Abbey Guaranteed Income Bond's market-leading rate, there is a minimum investment requirement of £5,000. There is also a minimum term of four years before customers can get their hands on their money.

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