The Abbey National has announced a reduction in the interest rates offered on several of its savings accounts, with cuts of 0.25 percent to match the recent base rate cut by the Bank of England.
Commencing on 1 May all Abbey National savings accounts with the exception of the eSaver Direct, Super 50 Plus and 50 Plus Saver will have the 0.25 percent cut on their rates. These ones mentioned will keep their rates as they were.
The Abbey National savings and investments director said that although the rates had been reduced on their accounts it was important to have a savings plan in place, especially in the current economic climate. It is a very competitive market and Abbey are committed to doing the best for their customers.
The latest Tesco Finance report on green activity shows that 53 percent of homeowners were driven by the chance to save money when it came to assessing energy efficient improvements in their homes.
Rising fuel costs have also driven around 54 percent of respondents to change aspects of their home to make them more eco friendly said Tesco Finance. Money is not the only driver though as some 56 percent of people said their concerns regarding the environment had influenced their decisions to some extent.
With so many demands on consumers pockets now and seemingly getting worse by the day it is no surprise to see people seeking ways to save money said a Tesco Finance spokesperson. The fact that these changes can also help the environment is an additional benefit for everyone.
A new Abbey National fixed rate investment bond has just been launched onto the market for a limited time only so investors should act promptly.
For sums of less than GBP30,000 the Abbey National one year bond will pay a rate of 6.3 percent, while those with GBP30k to GBP2 million will receive a fixed rate of 6.5 percent. Interested investors have until 10 June to get their money into this excellent new opportunity, with the minimum amount needed being just GBP1,000.
A spokesman from Abbey National explained that fixed rate bonds are more popular than ever and that this particular one delivers one of the very best interest rates available on the high street.