MoneyExpert.com: Abbey's new super saver account

Sean Gardner, of MoneyExpert.com, said: "Abbey's new super saver account, at 9.1%, offers a fantastic rate but, as one would expect from such a headline catching product, there are catches to look out for.

"The account works in the same way as a bond, requiring you to keep the money in the account for 12 months to make the most of the full 9.1% on offer. Interest, though, can be paid monthly, which for savers with a considerable amount in the account could prove useful.

"The major constraint is the requirement for savers to put an equal amount or more into one of Abbey's investment products. There's a wide range of investment products available but with the markets undergoing a torrid time of late there's no guarantee that your money will generate a great return. You certainly won't be guaranteed the 9.1% that the savings account promises.

"The credit crunch may have hamstrung many looking for a loan or mortgage at an affordable rate but savers seem to be in a much healthier position, with banks desperate to attract their cash.

"Anyone looking for a wide savings portfolio with some element guaranteed at an excellent rate should consider the Abbey Super Saver."