Abbey bond offered for limited period

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Abbey bond offered for limited period

Abbey has launched a new one-year fixed-rate bond, which is available for a limited period only.

Customers saving between £1 and £29,999 will receive a rate of 6.3 per cent gross per annum/AER on their money, while those saving between £30,000 and £2 million will benefit from a rate of 6.5 per cent gross per annum/AER.

The bond requires a minimum investment of £1,000 and has a maximum investment limit of £2,000,000.

It is also only on offer between May 2nd and June 10th 2008.

Reza Attar-Zadeh, director of savings and investments at Abbey, said: "Fixed rate savings bonds are increasingly in demand as savers look to lock in attractive rates in a falling interest rate environment. This is one of the best rates available on the high street for a one year bond."

Yesterday the bank announced that it will reduce the rates on a number of its variable savings accounts by 0.25 per cent, following the Bank of England's base rate cut of the same amount.
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