Money News
13th August 2008
Abbey unveils new savings offer
Abbey has unveiled a new savings incentive which it claims will help avoid erosion of customers' balances by soaring inflation.
The Super Monthly Saver account is available to consumers who take out a Protection Plan, regular investment or pension with the lender and offers a rate of interest of ten per cent.
This is significantly above the 6.25 per cent rate, which the company calculates is required to beat the rate of inflation of five per cent indicated by the most recent retail price index.
Reza Attar-Zadeh, director of savings and investments at Abbey, said: "With inflation continuing to climb savers need to look at all available savings options to ensure they're making the most of their money.
"With the Super Monthly Saver even higher rate taxpayers can continue to make a real return."
The minimum and maximum monthly deposits permitted in the account are £20 and £250 respectively.
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