Aiming at the savings market, Abbey International has just introduced a new fixed rate account paying a guaranteed 3.00% gross/AER over 12 months. The new account has a minimum balance requirement of £50,000 and is a limited offer account designed for new monies only. It is expected to be highly popular, given the combination of an attractive interest rate and the stability of Abbey International and will be withdrawn once fully subscribed.
At the end of the fixed rate term, clients can close their account or let the capital and interest roll over into a new fixed rate account of their choice.
Jane Matthews, Head of Client Experience at Abbey International, said: “With UK Base Rate remaining unchanged this month at their record low of 0.5%, this account offers a very attractive 3.00% gross rate of return. We understand today’s investors need high quality service, value and security and this account offers all three. Many people are rightly concerned about the stability of their bank, so it will reassure clients opening this new account to know that Abbey International is part of the Santander Group, which has more than 150 years’ experience in banking and has clients all over the world. Santander has an AA stable credit rating from both Fitch and Moody’s credit rating agencies.”
For further information on banking with Abbey International on Jersey call + 44 (0)1534 885055 or log onto www.abbeyinternational.com
For media use only and not to be relied on by consumers to make financial decisions.
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 investor.
Abbey international has a minimum balance entry requirement of £50,000 (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 Abbey National 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. Together, Abbey and Santander are committed to serving our customers, helping you make the most of your money. In 2008, Abbey won the Euromoney ‘Best UK Bank’ award, and Santander won the Euromoney ‘Best Global Bank’ award.
Abbey and Santander
Banco Santander, S.A., (SAN.MC, STD.N), headquartered in Madrid, engages primarily in commercial banking with complementary activities in global wholesale banking, cards, asset management and insurance. Santander had over EUR 1.079 trillion in funds under management at Sept. 30, 2008, from more than 80 million customers* served through more than 13,000 branches – more branches than any other international bank. Founded in 1857, Santander is the largest financial group in Spain and Latin America and has a significant presence in Western Europe and in the United Kingdom, through its Abbey subsidiary. In the first nine months of 2008, Santander registered €6,935 million in attributable net profit, an increase of 16% from 2007, excluding capital gains.
In Latin America, (excluding Banco Real) Santander manages over US$200 billion in business volumes (loans, deposits, mutual funds, pension funds and managed funds) through 4,638 branches. In the first nine months of 2008, (excluding Banco Real) Santander reported EUR 2,167 million in net attributable income in Latin America.
* Includes, Alliance & Leicester, Bradford & Bingley savings and Banco Real.
For more information, see www.santander.com.
Guy Stephenson/Jennifer Duffy
020 8333 9125
Jane Matthews, Abbey International, Head of Marketing & Business Development