Abbey launches Base Rate Tracker Term Account

Abbey International has launched a new issue of its Base Rate Tracker Term Account (Issue 6) as part of its range of deposit accounts offering consistent and competitive rates of interest.

The one-year sterling account offers an interest rate that moves in line with the UK Bank of England Base Rate until 6 May 2008.

Launch rates are: 4 May 2007 - 30 August 2007, UK Base Rate plus 0.30 per cent, 31 August 2007 - 31 December 2007, UK Base Rate plus 0.10 per cent and 1 January 2008 – 6 May 2008, UK Base Rate.

The Account offers a capital guarantee, meaning that customers will always receive back their initial capital deposit.

Jane Matthews, Head of Marketing & Business Development at Abbey International, said: “Previous launches of the Base Rate Tracker Term Account have been very successful. The account is straightforward and provides a very competitive rate that is simple to understand and gives customers the confidence that they are continuing to receive a good deal without the hassle of having to shop around constantly. Customers can also monitor their financial transactions via our Internet Banking Service.”

The Base Rate Tracker Term Account - Issue 6 is only available in sterling, with a minimum balance of £10,000.

Interest is calculated daily and will be paid on the maturity date of 6 May 2008. Further deposits to an existing account can be made at any time until maturity. Payments in can be made by cheque, CHAPS/Swift, BACS or for existing customers via inter-account transfers using the internet banking service.