The latest fixed-rate bond from Abbey "adds further choice" for those looking to open a new savings account, it has been claimed.
According to Sean Gardner, director of MoneyExpert.com, the savings account, which offers 7.01 per cent interest, is just about the best rate on offer for such a product.
Mr Gardner said: " Cash is proving an understandably popular investment after months of continued instability in equity and property markets, and for those looking for a safe home to make an investment this isn't a bad place to start."
However, the minimum amount of money that can be placed in the bond is £30,000, so those with less than this will need to look elsewhere for a savings account, he added.
Yesterday, James Elliott, coordinator at the national forum for financial inclusion Transact, warned that Britons are not putting enough money into savings accounts and should look to build up a nest egg to help them through difficult times.
Savings account from Abbey widens consumer choice, expert believes
Savings account from Abbey widens consumer choice, expert believes
Tue, 10 Jun 2008
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