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Abbey launches new stepped rate bond

Abbey is launching a stepped rate bond offering 5.00 per cent gross, stepping up twice during the 21 month term of the bond.

It will increase from 4.30 per cent to 4.60, capping at 5.00 per cent.

This is being offered for a limited period until January 10, 2006.

Abbey head of savings marketing Alexia Kilby says: “People can now get a good return on their money whilst having the security of knowing their money is 100 per cent guaranteed. With a fixed rate of interest that increases during the term of the bond, customers know exactly what they are getting back on their money. People who want a regular income from the bond, can choose the monthly interest option which will be paid into another account.”

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