Abbey International revamps fixed rate deposit contracts

Abbey International has revamped its range of limited offer fixed rate deposit contracts to now offer clients a range of options from nine months out to two years.

Nine month deposits attract a rate of 2.00% gross/AER (1.50% rate over term), whilst twelve month deposits offer 2.60% gross/AER .The minimum opening balance for both is £50,000. The eighteen month option pays 3.08% AER (4.65% rate over term). The minimum opening deposit is £100,000. Interest is paid upon maturity in each case.

Two year deposits are available via the Abbey International Escalator Bond which pays 3.25% gross/AER in year 1, rising to 3.75% gross/AER in year two. The minimum opening balance is £100,000. To qualify for the Escalator Bond, prospective clients need to have opened, or be in the process of opening a sterling Gold account. Interest is received after 12 months, and again upon maturity of the account, when both capital and interest are paid into the Gold account.

Jane Matthews, Head of Client Experience at Abbey International, said: “We understand the importance of a known rate of return over shorter terms for clients in the current difficult market. Our portfolio of shorter term fixed rate products offer a varied choice of maturity dates, together with the backing that comes from being a part of the Santander Group, which has more than 150 years experience in banking all over the world.”

For further information on banking with Abbey International, visit abbeyinternational.com.