Abbey International Comments On UK Base Rate Cut
Abbey International announced this week that it is maintaining its strategy of premium pricing the top
tier of its Instant Access Savings account, despite the recent cuts in UK Base
Rate. The account offers an interest rate of 6.05% gross/AER for customers with more
than GBP1m, making it the highest paying instant access account amongst the
offshore subsidiaries of the top 5 clearing banks, according to Abbey. A monthly interest option of 5.85% (6.01% AER) is also available. Announcing the new rates, Jane Matthews, Head of Marketing & Business
Development at Abbey International explained that: “We are conscious that there
is a large group of people who are now particularly keen to have the security
of a major banking institution standing behind their savings but who also want
to see their savings earning a leading rate." "Savers in the Abbey International
Instant Access Savings account can now have that combination and as interest
is calculated on a daily basis, this will give customers maximum flexibility.” .
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