Abbey launches second edition of 3.5% account

A second edition of Abbey International's 12-month 3.5 per cent fixed-rate savings account has been launched, it has been reported.

The account, which the firms expects to be "highly popular", has a minimum balance requirement of £50,000 and is available to new and existing clients.

At the end of the fixed-rate term, clients can close their account or let the capital and interest roll over into a new account of their choice.

Jane Matthews, head of client experience at Abbey International, said that with the UK base rate unchanged at its record low of 0.5 per cent, it had taken the opportunity to relaunch the account.

She added: "Clients opening a new account will benefit from the safety and stability of the Santander Group, which we at Abbey International are part of. Santander has more than 150 years' experience in banking and has clients all over the world.”

Last week, Sainsbury's Finance launched a new savings account paying a rate of 2.8 per cent Gross AER for balances of £1 or more.

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2009-09-07 12:55:27 © Moneyextra.com