Abbey: New bonds launched

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Abbey: New bonds launched

Wed 4th Feb 2009

Abbey has announced the addition of several new savings products to its portfolio, with the launch of new bonds and a Super Saver account on to the market.

The bank's new bonds will pay a fixed rate of interest at 2.25 gross per cent for one year or three per cent for three years - both of which are higher than the current Bank of England base rate.

Abbey's 12-month Super Saver account will pay a gross rate of interest of five per cent for one year.

However the bank said in a statement that customers would only qualify for this account if they "put an equal amount or more into any qualifying Abbey investment, including the capital guaranteed range".

With the Bank of England's monetary policy committee beginning their monthly meeting today, it is widely expected that the base rate of interest will be cut again before the end of this week.

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