Abbey savings bonus extended on 50+ account

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Abbey savings bonus extended on 50+ account

Abbey has lengthened the bonus period for new customers who open a 50+ Saver Account.

From today (October 1st), Abbey will give a 0.5 per cent bonus on interest for the first 12 months that the account is open.

The high street bank said that the decision to extend the offer was due to a continuing high demand for this particular product and will ensure that customers benefit from the bonus period.

Until July 1st, 2008, rates connected with the account will match any increase in the Bank of England base rate.

Abbey's head of savings, Reza Attar-Zadeh, commented: "The 50+ Saver account offers the over-50s an excellent, straightforward savings account with an attractive rate, instant access and availability via phone, internet, ATM or post."

Recently, Abbey introduced a new short-term, internet-only savings bond which gives 6.6 per cent gross per annum and 6.77 per cent AER.

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