For anyone looking for a high interest paying investment option the Abbey National has just launched a one year fixed rate bond that offers a 7.01 percent interest rate.
The minimum investment amount is GBP30,000, with a maximum of GBP2 million, enough for most people. The Abbey National bond is a one year term, with an expiry date of 1 July 2009. This means that investors will have to act smartly to get their funds in within the deadline.
An Abbey National spokesman confirmed that the current market for savings and investments is the best it has been for many years and is urging consumers to take advantage of the situation while it is available.
The Nationwide Building Society is readying itself for the provision of savings products to customers in the Republic of Ireland.
As long as the proposal is approved by both the FSA and the Irish equivalent then the Nationwide Building Society will begin selling savings products to Irish customers by telephone, online and through the post. The move is being seen as a good strategic option for the Nationwide as it expands their geographic coverage and increases the funding options.
Industry commentators have said that the Nationwide Building Society is already in a strong financial position so this step into Eire is set to improve that position still further.
Lloyds TSB will be striving to reunite around GBP69 million with its owners, spread over 120,000 savings accounts that are laying dormant.
The bank will be working on accounts with more than GBP100 in them and will be using a specialist search company to locate the account holders and reacquaint them with their funds. The average amount per person will be in the region of GBP575 so it is a very worthwhile exercise and one that the recipients of the money are sure to appreciate said a Lloyds TSB spokesman.
These accounts appear to have been forgotten by their owners, hence the use of the search company. Lloyds TSB would not mind account holders getting in touch with them directly though, so if you think you have a dormant Lloyds TSB savings account get in touch with them and see if there is a windfall waiting for you.
