Abbey International Reports Strong Take Up of Best Buy 3 and 5 Year DepositsBy Abbey International, PRNE
Sunday, August 22, 2010
ST HELIER, Jersey, August 23, 2010 - Abbey International has reported strong levels of interest in its latest
round of medium term fixed rate accounts over both three and five year terms.
The five year account is a Best Buy according to Moneyfacts (source
www.moneyfacts.co.uk) and offers clients a return of 4.25% gross/ AER
over five years.
Abbey International is also offering a further Moneyfacts best buy with
its offshore three year fixed rate bond paying 3.85% gross/AER.
Head of Client Experience Jane Matthews comments, "In the past, it has
been unusual to see strong interest in longer term fixed rate savings when
interest rates are at a low point in the cycle and are predicted to rise.
However, both our three and five year offshore fixed rate Bonds have seen
strong demand, which may well be a reaction to the fact that UK Base Rate is
expected to remain at a low level by many commentators for some time yet."
Applicants wishing to open a five year account will also need to open an
Abbey International sterling Call Account to receive their annual interest,
but as the Call Account is a no notice account offering unlimited access to
funds, clients will then enjoy easy access to interest received. The minimum
balance required to open the 5 year account is GBP50,000. The three year
account has a minimum balance requirement of GBP100,000, with interest again
paid away annually.
Both accounts are being marketed on a limited offer basis, so will be
withdrawn when fully subscribed.
For further information on banking with Abbey International in
Jersey call + 44(0)1534-828-828 or log onto www.abbeyinternational.com
For media use only and not to be relied on by consumers to make
Notes to Editors:
Abbey International is located in Jersey, a secure,
well-established and politically stable financial centre, which is renowned
internationally for its high standards of regulation. Jersey's unique
constitution and relationship with the British Crown dates back hundreds of
years. This provides for a unique legal and neutral tax system that can
provide significant wealth planning opportunities for the international
Abbey international has a minimum balance entry requirement of
GBP50,000 (or currency equivalent) across our portfolio of products. The
minimum balance amount can be spread across a range of accounts, subject to
the minimum opening deposit for each account being met.
All deposits carry the full and unconditional guarantee of Santander UK
plc, itself a wholly owned subsidiary of the Santander Group.
Santander has more than 150 years' experience in banking and more
branches worldwide than any other international bank.
About Banco Santander
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and
commercial bank, based in Spain, with presence in 10 main markets. At the end
of 2008, Santander was the largest bank in the euro zone by market
capitalization and third in the world by profit. Founded in 1857, Santander
had EUR 1,271 billion in managed funds at the end of 2008. Following the
acquisition of Sovereign Bancorp. of the U.S. in January 2009, Santander had
90 million customers, around 14,000 branches - more than any other
international bank - and over 170,000 employees. It is the largest financial
group in Spain and Latin America, with leading positions in the United
Kingdom and Portugal and a broad presence in Europe through its Santander
Consumer Finance arm. In the first half of 2009, Santander registered
EUR4,519 million in net attributable profit.
In the UK, Santander operates two retail businesses -
Santander, which was formed out of the Abbey and Bradford & Bingley retail
network, and Alliance & Leicester. Together they have over 1300 branches,
around 4,500 cash machines and they provide a full range of retail and
corporate banking services to 25 million customers.
Alliance & Leicester will become known as Santander by the end of 2010.
Media Contacts: Guy Stephenson/Jennifer Duffy Nacelle Ltd +44(0)20-8333-9125 firstname.lastname@example.org Jane Matthews, Abbey International, Head of Client Experience +44(0)1534-828137 Jane.email@example.com
Media Contacts: Guy Stephenson/Jennifer Duffy, Nacelle Ltd, +44(0)20-8333-9125, gstephenson at nacelle.co.uk, Jane Matthews, Abbey International, Head of Client Experience, +44(0)1534-828137, Jane.matthews at abbeyinternational.com
Tags: Abbey International, August 23, Jersey, St. helier