Abbey launches Issue 8 Base Rate Tracker Term Account

Abbey International has launched Issue 8 of its Base Rate Tracker Term Account as part of its range of deposit accounts offering consistent and competitive rates of interest offering savers rates of up to 5.30% gross/AER, one of the highest rates available from a leading offshore bank.

The one-year sterling account offers an interest rate that tracks UK Bank of England Base Rate with the addition of a 0.30% bonus until 31 August 2008. A 0.10% bonus is applied to UK Base Rate until 31 December 2008, thereafter the interest rate tracks UK Base Rate.

The simple, transparent interest rate structure will appeal to savers looking for the security of a leading offshore banking Group and interest rate structure which gives security and confidence. The account also 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: “All our previous launches of the Base Rate Tracker Term Account have been very successful and in the current climate of uncertainty, we are confident this will be a popular choice. 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 8 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 2009. 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.

For further information on offshore banking, visit abbeyinternational.com.