Abbey launches new GIB

14 February 2006
Abbey has launched a new Guaranteed Income Bond (GIB), which offers protection of capital and income for the next four years.

A fixed income is guaranteed at a competitive rate for the investment as well as the full return of capital as long as the bond is held for the full term.

Those who cash the bond before the four-year term ends may receive less than they paid in.

The GIB guarantees a fixed income of 3.68 per cent if income is taken annually, or alternatively 3.56 per cent if taken monthly or quarterly.

It is the ninth version of the GIB to be launched by Abbey.

"The Guaranteed Income Bond has proved incredibly popular. It provides customers with capital security at maturity and the certainty of a regular income for the next four years," said Pak Chan, head of investments marketing at Abbey.

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