Abbey International has launched Issue 8 of its Base Rate Tracker Term Account as part of its range of deposit accounts offering savers rates of up to 5.30% gross/AER.
The one-year sterling account offers an interest rate that tracks UK Bank of England Base Rate with the addition of a 0.30% bonus until 31st August 2008.
A 0.10% bonus is applied to UK Base Rate until 31st December 2008, thereafter the interest rate tracks UK Base Rate.
According to Abbey: "The simple, transparent interest rate structure will appeal to savers looking for the security of a leading offshore banking Group and interest rate structure which gives security and confidence."
"The account also offers a capital guarantee, meaning that customers will always receive back their initial capital deposit."
Jane Matthews, Head of Marketing & Business Development at Abbey International, commented:
“All our previous launches of the Base Rate Tracker Term Account have been very successful and in the current climate of uncertainty, we are confident this will be a popular choice.”
The Base Rate Tracker Term Account - Issue 8 is only available in sterling, with a minimum balance of GBP10,000.
Interest is calculated daily and will be paid on the maturity date of 6th May 2009.
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