Abbey increases rates on 50+ saver account

Abbey Savings has increased its 50+ Saver rates for those with large balances - up to a market leading 6.50 per cent gross.

The 6.50 per cent rate is the highest available for instant access accounts, and is backed by strength of one of the world's biggest banks. The account can be applied for online at abbey.com.

Reza Attar-Zadeh, Director of Savings and Investments at Abbey, said: "We launched our 50+ saver account to create an account that reflects the status of the over 50s and offers highly competitive rates to encourage saving for those approaching retirement."

"These new tiers reward those with large balances. We believe the combination of rate, access and the financial backing of Santander makes this the most compelling savings option for those over 50 with large balances."