New Abbey fixed rate bond on offer

New Abbey fixed rate bond on offer

Santander has made a new range of fixed rate bonds available, among them an Abbey Fixed Rate Bond.

Details of a new range of fixed rate bonds have been unveiled by Santander.

The products - which include an Abbey Fixed Rate Bond - can be opened from a minimum balance of £1, with bonds lasting one year, 18 months and two years all available.

Reza Attar-Zadeh, director of savings and investments for Santander, states: "Fixed rate savings are in demand as savers look for base rate beating returns - they offer security of capital and a fixed, guaranteed return."

Both monthly and annual interest rate options are provided, although the fixed bond rate tends to be slightly lower if the former is selected.

However, Mr Attar-Zadeh claims that opting for monthly return on interest can be of particular assistance to those Britons looking to review a regular income from their savings.

Meanwhile, Jane Baker wrote in a recently article for Love Money that those on the search for a fixed rate bond may wish to take out a product lasting no longer than two years so they do not find themselves stuck in an uncompetitive deal when the base rate eventually rises.

Written by Joe Letts.ADNFCR-2079-ID-19198481-ADNFCR
Tuesday, 02 June 2009 00:00
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Comments (8)

The comments listed below are opinions held by the individuals posting and are not endorsed by, or representative of opinions held by which4u.co.uk. We cannot be held responsible or liable for the accuracy or content of any comments submitted. We reserve the right to publish, remove or edit comments as we see fit.
  • Sarojni 2009-06-07 17:19:37
    Abbey should give address and telephone no. where the bond has to be sent. I was given Leighton Bussard, Beds, LU7 2WU. I cannot find that business address and there should be a person I can talk to.
  • john fuller 2009-06-29 12:55:47
    i applied for 1yr abbey bond 2 weeks ago am still waiting to invest my money.what terrible service, am now looking elsewhere.
  • Derek Armitage 2009-07-01 11:05:25
    I need to have available cash for items such as possible update of car new carpets, new 3 piece suites plus unforseen property maintenance and cannot tie up a sum of £20K fixed for 12 months. my bank is giving a paltry 0.1%. Are there any institutions which will give a better rate say 1.5% plus for accessible funds?
  • Admin 2009-07-01 11:17:58
    Derek,

    Several savings account providers have today increased rates on instant access accounts, offering up to 3%.

    To see all of our accounts click the 'Banking & Saving' tab above, or check out the following article for more information: July-Brings-Rising-Rates-for-Savings-Accounts
  • Doherty 2009-07-09 17:09:55
    Abbey's rates may be good but they are rubbish at opening and managing accounts. I spend hours trying to chase them up
  • joan Bramall 2009-07-22 18:52:19
    what is the fixed rate interest rate
  • Jane 2009-08-06 13:35:40
    I have £120,000 to invest for 2-3 years, I am looking for a safe option with a good return, what do you suggest
  • Admin 2009-08-06 13:58:54
    Hi Jane,

    The safest option would be to invest £50,000 at a time between different financial institutions (or in your case 2x £50,000 & 1x £20,000), as this is the amount protected for each individual per institution by the Financial Services Compensation Scheme.

    There are several great fixed rate bonds on our site, offering up to 5% returns.

    But remember, although it is unlikely the banks will go bust, each institution will only cover you up to £50,000 should there be a problem, and some institutions are made up of several banks. See our Top 10 savings Tips for more information.

    Check out our Fixed Rate Bonds table for the best deals available on our site.

    Alternatively, if you don't mind risking your interest, you may wish to consider capital protected investment bonds. These accounts provide a rate that is predicted, so could provide you with higher rates than that offered on a standard bond. The same £50K rule applies, so this could be one of your 3 investments. For more info, see our Investment Bonds page
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First Save 6 Month Bond

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Nationwide 1 Year Fixed Rate Bond

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Nationwide 1 Year Fixed Rate Bond

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Vanquis Bank 5 Year Fixed Rate Bond

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  • Sole or Joint Accounts.
  • Restricted to UK residents 18 years or older.
  • No additional deposits, withdrawals or closure during term.
  • Vanquis Bank is a UK bank with operations and call centres in London, Chatham, Bradford and Newcastle, and is part of the Provident Financial Group, a FTSE 250 company founded over 130 years ago.
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Saffron BS 3 Year Fixed Rate Bond

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  • You can open an account with just £100.
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  • YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme

Scottish Widows 3 Year Fixed Rate Bond

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  • The Scottish Widows 3 Year Fixed Rate Bond is a fixed interest rate account offering a competitive 4.00% AER over a period of three years.
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  • No partial withdrawals permitted during deposit term.
  • *Stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

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