New Abbey 50+ Saver initiated
www.moneynews.co.uk > Banking > New Abbey 50+ Saver initiated
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Money News |
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New Abbey 50+ Saver initiated
Tue 30th Jan 2007
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The Abbey 50+ Saver is available with an interest rate of up to 5.8 per cent - market-leading according to the bank - and provides customers with a cashcard usable at ATMs.
Only £1 is needed to open up the Abbey 50+ Saver account and the bank has stated that any change to the Bank of England base rate will directly affect the rate of the account up until April next year.
Reza Attar-Zadeh, head of savings and investments at Abbey, remarked: "The 50+ market is transforming UK society. They are the only growing segment of the population, hold 60 per cent of all savings and are responsible for over 40 per cent of all consumer demand."
The Abbey 50+ Saver offers a tiered interest rate reliant on the amount of money in the account. £1 up to £49,999 provides 5.25 per cent up to the 5.8 per cent rate should a customer have over £200,000 in their account.
Related News : Banking |
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Related News : Santander |
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