Abbey account launched

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Abbey account launched

Mon 12th Mar 2007

The "straightforward" and "competitive" account, according to Jane Matthews, head of marketing and business development at Abbey International, will move in line with the Bank of England interest rate until May 2008.

From May 4th until August 30th 2007, the rate will reflect the base rate plus 0.30 per cent.

Thereafter, until December 31st 2007, the account will track the base rate plus 0.10 per cent, tracking the base rate also until it meets maturity.

Requiring a minimum investment of £10,000 the account is also simple to understand and "gives customers the confidence that they are continuing to receive a good deal without the hassle of having to shop around constantly", Ms Matthews said.

However, the Abbey account also provides a good deal of security, so that further deposits can be made at any time until it matures.

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