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Abbey offers savers another option

Abbey offers savers another option

Category: Savings

Updated: 06/03/2009
First Published: 06/03/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Abbey's latest forays into the savings market are good news for those of you struggling to find a home for your money.

The eSaver Direct (Issue 2) is an instant access internet operated account requiring a minimum investment of £1.

A rate of 3.00% yearly means it sits comfortably in the top five internet accounts available.

However, it does include a 1.25% bonus for the first 12 months, making it essential to review your options once a year is up.

Access to your funds is allowed but a lower rate of 0.10% is paid for any month in which a withdrawal is made.

The Instant Access Saver (Issue 3) is a branch and telephone operated account that requires a minimum £1K investment.

It also pays 3.00% yearly but includes a 1.50% bonus for 12 months, again making a review of the market sensible once a year has elapsed.

As its name suggests, access to your funds is instant, although if the balance in the account falls below £1K, a reduced rate of interest of 0.10% applies.

Both of these products have been rewarded with four out of five Moneyfacts stars.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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