Abbey announces new rates on limited offer fixed rate contracts

Abbey International has announced new interest rates on its limited offer fixed rate contracts which are now paying up to 5.00% AER, to complement its variable interest rate range of offshore deposit and Base Rate tracker accounts.

Aimed at new funds only with a minimum balance of £30,000, the accounts offer a choice of fixed interest rate options over 3, 6 and 12 months to suit savers looking for a fixed rate of return over varying periods of up to a year.

Over 12 months, all deposits will earn a guaranteed rate of 5.00% gross/AER, a full 2% above UK Base Rate.

Deposits held for 3 months will currently earn 4.25% gross / 4.32% AER, while those held for 6 months will currently earn 4.45% gross / 4.50% AER. Interest is paid on maturity and is linked to the UK Bank of England Base Rate plus a bonus depending on contract term and balance. Current bonus rates are 2% for 12 month contracts, 1.25% and 1.45% respectively for 3 and 6 month contracts.

Jane Matthews, Head of Marketing & Business Development at Abbey International, said: “In the current climate of uncertain interest rates, fixed rate savings will appeal to savers looking for guaranteed fixed interest rates.”

For further information, visit abbeyinternational.com