Abbey 7% Fixed Rate Monthly Saver launch 14/07/06

Afahmaep

Was in my local branch today and thought I had scoop on above only to find details in today's Daily Mail Money section.
Minimum £20
Maximum £250
Identical to Halifax

Limes

Is this different in anyway other than rate to their existing fixed rate monthly saver product at 6% which was introduced last October?

lil_miss_2

Do u need to have a current account with them? cos with the 6% one u do.

Thanks

Kazza242

lil_miss wrote:

Do u need to have a current account with them? cos with the 6% one u do.

Thanks

No, you do not have to open/have a current account to qualify for the Abbey 7% account. This new account is completely separate from their 6% offering.

According to the Money Mail, if you miss a payment or make a withdrawal, you will only earn 0.75 gross interest in that month. The rate then goes back up to 7% for the rest of the year.

$17mma

Apparently there is also an 8% saver available :T same terms as 7% i.e between £20-£250 per month, access to savings if needed.

• if you open an Abbey account and pay £1000 into the account (salary)
• Apply for an Abbey mortgage
• Take out an investment product
• Open another Abbey Savings account with £1000 or more that isnt currently saved with Abbey

I also undestand that the offer of both the accounts 7 & 8% end in August!!

Kazza242

The Abbey 7% monthly saver account is now on the Moneyfacts website: http://www.moneyfacts.co.uk/savings/bestbuys/savings_regular.aspx

Prudent

How long is the term of this account? I see interest is paid on maturity.

$17mma

Prudent wrote:

How long is the term of this account? I see interest is paid on maturity.

12 months I beleive

mary

The moneyfacts link only takes you through to the general Abbey site.
Can't seem to see the 7% account, maybe we have to wait until 14th.

Dagobert

$17mma wrote:

Apparently there is also an 8% saver available

Where did you find out about this?

Kazza242

mary wrote:

The moneyfacts link only takes you through to the general Abbey site.
Can't seem to see the 7% account, maybe we have to wait until 14th.

Yes, to view the account details on the Abbey website we do have to wait until the official launch tomorrow (14th). I posted the Moneyfacts link so that people could view some of the details of the account, as information on this product is a bit scarce at the moment.