Abbey issues one year fixed rate bond paying 7.01%

Abbey Savings has launched a special one-year savings account for customers looking for a guaranteed return on an amount of money they can lock away for one year.

This is a strictly limited offer and will be subject to availability.

Abbey is backed by the financial strength and stability of Santander - a top ten global bank by tier one capital, profit and market capitalisation.

One Year Fixed Rate Bond

For customers who want a guaranteed rate of interest for a fixed period of time, the Fixed Rate Bond offers the below rates:

Term: 1 year
Tier: £30,000 - £2 million
Gross rate p.a./AER : 7.01%
Net rate p.a. : 5.61%

Customers can apply for the bond either by visiting their local branch or telephoning the customer sales line on 0800 234 6065. This bond is on offer from 4 June 2008 until 30th June 2008 (subject to availability).

Reza Attar-Zadeh, Director of Savings and Investments at Abbey, said "The current environment for savers is exceptional. This is the highest rate available on the high street for a one year bond."