Abbey issues new fixed-term savings bonds

Abbey Savings has launched its latest tranche of fixed-term savings accounts for customers looking for a guaranteed return on an amount of money they can lock away for a set time.

50+ Bond

For people over 50 years old and who may be looking for a regular income from their savings, Abbey offers the 50+ Bond with a fixed term of three years and interest guaranteed.

Abbey is firmly committed to the over 50s market and recently launched a 50+ Saver, which offers up to 6.05% and is guaranteed to move in line with any changes in the Bank of England base rate until 1 October 2008.

Children’s Saving Bond

For people looking to save for a child’s future, there is a Children’s Savings Bond, available to savers under 18 offering a guaranteed fixed rate over a term of four years.

Reza Attar-Zadeh, head of savings and investments at Abbey, said “The 50+ market is one of the most dynamic in UK society. As the only growing segment of the population, they hold 60 per cent of all savings and are responsible for over 40 per cent of all consumer demand. Our Abbey 50+ Saver account has already proved highly popular and we expect this 50+ bond offer to appeal to similar savers.

“We also expect the other bonds available in this launch to appeal to both those saving for children or looking for regular interest payments.”