Abbey International increases rates on base rate tracker term accounts

Abbey International has responded to this month’s announcement by the Bank of England Monetary Committee increasing UK Base Rates to their highest level since 2001. Interest rates on all Abbey International Base Rate Tracker Term accounts are guaranteed to move within two working days of any UK Base Rate change and will rise from 9 July 2007. Base Rate Tracker Term Account - Issue 6, a new one year product is currently paying a variable bonus enhanced rate of 6.05 per cent gross AER until 30 August 2007. From 31 August until 31 December 2007, the rate will be UK Base rate plus bonus of 0.10 per cent and from 1 January 2008 until maturity on 6 May 2008, the interest rate will match the UK Base Rate.

Abbey International’s Base Rate Tracker 90 and 180 day notice accounts are paying up to 5.77 per cent and 5.98 per cent gross AER respectively. Both these accounts offer the facility of quarterly interest payment for income seekers.

Jane Matthews, Head of Marketing & Business Development at Abbey International said: “For expatriates, keeping track of their savings rates during periods of frequent interest rate changes can be confusing and time consuming. Our Base Rate Tracker range of products offer a clear solution to this, with a guarantee that interest rates will change within two banking days of any change in UK Base Rates. With such a transparent structure and ease of access via our internet banking service, we believe that our Base Rate Tracker accounts are one of the most attractive products available.”