Abbey one-year fixed-rate bond introduced

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Abbey one-year fixed-rate bond introduced

A new savings option for those eager to earn interest on their money has been launched by high street bank Abbey.

The Abbey one-year fixed-rate bond is a 12-month option that offers a 7.01 per cent rate of interest for people putting away between £30,000 and £2 million.

Due to mature on July 1st next year, the bond is "strictly limited", the bank said.

Reza Attar-Zadeh, the director of savings and Investments at Abbey, advised consumers to take advantage of the savings products presently on offer.

"The current environment for savers is exceptional. This is the highest rate available on the high street for a one-year bond," he remarked.

Launching today (Wednesday), the Abbey one-year fixed-rate bond is suited to those looking a fixed-rate of interest on their savings, the Santander-owned outfit stated.

Senior marketing executive at Newcastle Building Society Steve Urwin recently told consumers that building societies provide "competitive" rates of interest.
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