Abbey International has launched a range of limited offer fixed rate contracts, currently paying 6.75% AER.
The range is designed to complement the company’s 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, said Abbey International.
Over 12 months, all deposits will earn a guaranteed rate of 6.75% gross/AER, 1.7% above the UK base rate.
Jane Matthews, head of marketing and business development at Abbey International said the strategy of offering competitively priced, guaranteed savings rates has been very popular with savers and the new accounts continue that approach.
“In the current climate of uncertain interest rates, fixed rate savings will appeal to savers looking for guaranteed fixed interest rates to give them budgeting certainty.
“For retired savers looking to boost and guarantee income, these are very attractive rates, too.”
Deposits held for three months will earn 6% gross, 6.14% AER while those held for 6 months will earn 6.20% gross, 6.3% 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 1.75% for 12 month contracts and 1.2% and 1% respectively for six and three month contracts.
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