Abbey International unveils 5% gross on fixed rate deposits

The revised rate complements the variable interest rate of its offshore deposit and Base Rate tracker accounts, Abbey said. Targeting new funds only with a minimum balance of £30,000, the accounts offer a choice of fixed interest rate options over three, six and twelve months, aiming to attract savers looking for a fixed rate of return. Over 12 months, all deposits receive a guaranteed rate of 5% gross/AER, 2% above the UK Base Rate. Deposits held for three months will currently earn 4.25% gross/ 4.32% AER, while those held for six months will currently earn 4.45% gross/ 4.5% AER. Int...