Abbey has altered the interest rate on its fixed-rate monthly savings account.
The savings account, which is available to new and existing customers, now boasts and interest rate of seven per cent.
Abbey believes that the savings account offers a range of benefits not available with other providers, for example the account will not be closed if the saver misses a payment.
Also, as the savings account is a one year plan, the balance will be transferred into one of Abbey's other accounts, which features an interest rate of 4.75 per cent.
Reza Attar-Zadeh, Abbey's head of banking and savings said: "This is a straightforward offer, which gives great value, offers flexibility and is available to anyone.
"While other banks default to online accounts, current accounts and in some cases poor paying savings accounts, Abbey offers customers the only default account with the same type of savings terms as the fixed-rate monthly saver account."
He adds that new customers can benefit from Abbey's current account, which pays six per cent AER.
Abbey offers customers a wide range of savings, pensions and investments.
Abbey revamps fixed-rate savings account
Abbey revamps fixed-rate savings account
Fri, 14 Jul 2006
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