Abbey launches new GIB

15 November 2005
Customers who missed out on Abbey's last bond will be able to take advantage of its new guaranteed income bond (GIB).

The new product is Abbey's sixth GIB - brought back due to popular demand.

The bond offers fixed income at a rate of 3.8 per cent per annum and guarantees the full return of initial capital if held for the full four-year term.

Abbey’s head of investments marketing, Pak Chan, said: "The guaranteed income bond continues to be incredibly popular. It gives people the opportunity to secure a fixed income which is above the current base rate for the next four years."

The bond requires a minimum investment of £5,000 and customers can start the application process by visiting an Abbey branch or calling to arrange an appointment.

Applications will be accepted until December 6th - but could be sold out earlier, warns Abbey.

Abbey says customers who may need access to their money before the end of the bond's four year term, or need instant access to their money, should not consider the bond.

To read more about Banking News, click here.

track© Adfero Ltd