Interest rates may be low but your savings rates don't have to be

Following the announcement that the Bank of England base rate has been cut from 3% to 2%, Abbey this week encourages savers to think carefully to ensure they continue to get the best out of their savings.

Abbey offers savers a selection of base rate beating accounts including new issues of Super Fixed Rate Monthly Saver and Fixed Rate Monthly Saver. Abbey's Super Fixed Rate Monthly Saver offers savings 8% AER fixed for 12 months provided no withdrawals are made and savers deposit between £20 and £250 per month by standing order. Savers must take out a regular investment, pension or personal protection plan with Abbey with the potential to benefit from any future growth in the FTSE 100 with their capital guaranteed at the end of the term.

Fixed Rate Monthly Saver pays a highly competitive 6.00% fixed for 12 months provided no withdrawals are made and savers deposit between £20 and £250 per month by standing order.

Reza Attar-Zadeh, Director of Savings and Investments at Abbey "It's vital that savers look at all available options in a falling interest rate environment to ensure they continue to make a real return. The clear choice may be fixed rate accounts which shield savers from future rate cuts, but tax-payers must not forget their ISA allowance to avoid paying unnecessary tax on their interest"

Abbey's highly attractive Super ISA offers 5.75% AER variable tax free rate including a bonus for 13 months. The account is available to anyone who pays in the same amount or more into the Abbey Guaranteed Growth Plan, a stock market linked plan offering a capital guarantee when savers leave their money untouched for the full term

For more information about Abbey's savings accounts, visit abbey.com