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Abbey reports strong take up of medium term fixed rate accounts

23rd August 2010 Print

Abbey International has reported strong levels of interest in its latest round of medium term fixed rate accounts over both three and five year terms.

The five year account is a Best Buy according to Moneyfacts and offers clients a return of 4.25% gross/ AER over five years.

Abbey International is also offering a further Moneyfacts best buy with its offshore three year fixed rate bond paying 3.85% gross/AER.

Head of Client Experience Jane Matthews comments, “In the past, it has been unusual to see strong interest in longer term fixed rate savings when interest rates are at a low point in the cycle and are predicted to rise. However, both our three and five year offshore fixed rate Bonds have seen strong demand, which may well be a reaction to the fact that UK Base Rate is expected to remain at a low level by many commentators for some time yet.”

Applicants wishing to open a five year account will also need to open an Abbey International sterling Call Account to receive their annual interest, but as the Call Account is a no notice account offering unlimited access to funds, clients will then enjoy easy access to interest received. The minimum balance required to open the 5 year account is £50,000. The three year account has a minimum balance requirement of £100,000, with interest again paid away annually.

Both accounts are being marketed on a limited offer basis, so will be withdrawn when fully subscribed.

For further information on banking with Abbey International, visit