Abbey brings back savings account option to the UK
Abbey has announced that it is returning one of its savings account options to the UK market due to its popularity.
Abbey has announced that it is bringing back one of its savings accounts to the UK due to popular demand.The bank said that the savings option, a two-year, fixed-rate bond paying an interest rate of 4.01 per cent, will be returned as a limited offer, meaning that customers will be able to take advantage on a first come, first served basis.
Savers wanting to take advantage of the offer need to deposit between £30,000 and £2 million in the bond account and be prepared to leave it untouched for two years.
Reza Attar-Zadeh, director of savings and investments for the bank, said: "With interest rates at an all time low, it's clear savers have to work harder to make the most of their money."
He added that the new bond offers an interest rate that is more than 3.5 per cent higher than the Bank of England's base rate, which is currently 0.5 per cent.
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