Abbey is to launch a new fixed-rate savings bond, it has been announced.
The firm will begin operating the savings account, which offers an interest rate of up to 6.75 per cent gross, from August 4th.
Consumers who opt to be paid interest on an annual basis will attract a rate of 6.35 per cent for balances between £1 and £29,999 and 6.75 per cent for deposits between £30,000 and £2 million.
Reza Attar-Zadeh, director of savings and investments at Abbey, said: "Fixed-rate savings bonds are proving exceptionally popular in the current market as savers look to lock in to the high interest rate environment."
The bond will offer customers a "highly attractive rate" and has the advantage of being available on the high street, he added.
Yesterday, Kevin Mountford, head of savings at Moneysupermarket.com, pointed out that Kaupthing Edge's decision to increase the interest rate on its easy-access savings account to 6.55 per cent makes it one of the best on the market.
Abbey to launch new savings bonds
Abbey to launch new savings bonds
Fri, 01 Aug 2008
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