People over 50 could use a new savings account by Abbey for saving money.
The new savings account offers stock market-linked returns for customers over 50.
All retirement savers could open the Platinum Savings Plan savings account for saving money.
The savings account offers a savings rate of 5.5 per cent gross p.a./AER and offers savings account holders instant access to their savings.
A guaranteed return on a three-year stock market-linked savings bond has been incorporated in the savings account.
Abbey's savings marketing manager Mary Fisher noted that more than a third of the British population are now aged over 50.
"Abbey is providing a savings plan to meet their needs for both instant access to money and retirement investment," she commented.
Ms Fisher continued, saying that the savings account offers a competitive savings rate on money people need instant access to, whilst "giving the potential of earning greater returns on the money saved for the longer term".
"As well as offering great rates and flexibility, both parts of the Platinum Savings Plan come with guarantees - the savings account will stay in line with base rate movements and the Platinum Savings Bond has a guaranteed return," she added.
The minimum investment needed to open the savings account is £20,000. At least half of this must be invested in the savings bond or investment.
New Abbey savings account for over-50s
Financial Services > Savings > Savings and Investments News
New Abbey savings account for over-50s
Mon, 18 Jul 2005
| savings news |
|---|
| Savings rates falling to fund mortgage cuts - Wed, 10 Mar 2010 |
| Savings accounts hit by latest base rate decision - Mon, 08 Mar 2010 |
| ISA customers urged to invest by banks - Fri, 05 Mar 2010 |
| More News |
