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New investment vehicle from Abbey

11 August 2005
High street lender Abbey has launched a third guaranteed income bond (GIB) hoping to build on the success of the previous two issues.

The GIB offers a guaranteed fixed income rate of 3.6 per cent and the full return of capital after four years.

The announcement comes at a time when many investors are looking at different vehicles to make their money work best for them.

"The first two issues of the guaranteed income bond have been incredibly successful and we are pleased to issue a third at such competitive rates," said Pak Chan, Abbey's head of investments marketing.

"With interest rates having fallen and the potential for them to fall further, the guaranteed income bond gives people the opportunity to secure a fixed income for the next four years."

The financial services sector and the government have been working hard to convince more people to save for the future.

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