Five-year fixed saver launched by Abbey

Abbey International has launched a new five-year fixed-rate savings account offering 4.5 per cent AER.

The account, aimed at new and existing Premium Banking clients, offers preferential early access to selected products and services, and the best savings interest rates on qualifying products.

It is built around the core of Abbey International's Gold account, a multi-currency and internet-enabled current account.

For consumers who are not signed up to Abbey's Premium Banking service, a second version of the account paying four per cent has been made available.

Abbey International's head of client experience Jane Matthews said the new option offers clients a known and stable rate of return for the next five years.

"[It] complements our other shorter term fixed rate savings accounts, such as our 18-month account.

Last month, research conducted by Nationwide indicated that three out of ten Brits are not saving at all, raising concerns about UK consumers' financial habits.

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2010-04-12 15:22:33 © Moneyextra.com