Abbey International Offering 4.25% Return
Wednesday, August 25, 2010
Abbey International (Jersey) 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 offers clients a return of 4.25% gross/ AER over five years.
Abbey International (Jersey) is also offering 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. The Call
Account is a no notice account, offering unlimited access to interest received.
The minimum balance required to open the 5-year account is GBP50,000. The three-year
account has a minimum balance requirement of GBP100,000, with interest again
paid away annually.
Both accounts are being marketed on a limited offer basis, and so will be withdrawn
when fully subscribed. |
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