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.

The Bond is designed in line with Abbey’s commitment to the over 50s market, complementing its 50+ Saver, which offers up to 6.30% and is guaranteed to move in line with any changes in the Bank of England base rate until 1 July 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.

Fixed Rate Bond

For customers who want a guaranteed rate of interest for a fixed period of time.

Customers can apply for the bonds either by visiting their local branch or telephoning the customer sales line on 0800 234 6065. The bonds are available until 11 September 2007.

Reza Attar-Zadeh, Head of Savings and Investments at Abbey, said “Our Abbey 50+ Saver account has proved highly popular and we expect the 50+ bond offer to appeal to similar savers. The 50+ market holds 60 per cent of all savings and are responsible for over 40 per cent of all consumer demand and Abbey is firmly committed to offering compelling ideas for this group.”

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