Abbey bond 'launched'

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Abbey bond 'launched'

Wed 13th Jun 2007

Abbey has launched its most competitive guaranteed income bond – with the 25th issue possessing a rate of 6.10 per cent gross each year.

Requiring a minimum investment of £5,000, the Abbey bond guarantees that a full return of capital outlaid will be provided at the end of a four-year term.

If interest is taken on the Abbey bond on an annual basis, a fixed income of 6.10 per cent gross will be provided, or six per cent if it is taken on a monthly or quarterly basis.

Reza Attar-Zadeh, head of savings and investments at Abbey, described the bond as always having been a "popular" product and said he was "delighted" to be able to offer it at its highest ever rate.

"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," he added.

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