New Fixed Rate 5 Year Offshore Savings Plan (account) Offers 4.5%Gross/AER
ST HELIER, Jersey, April 9, 2010 – A new sterling 5-Year Fixed Rate Saver account offering 4.50% gross/AER has been launched by Jersey based Abbey International. The account is aimed exclusively at new and existing Premium Banking clients. Premium Banking from Abbey International is an enhanced service suitable for those clients requiring a more personalised service from their offshore bank, with preferential early access to selected products and services and preferential interest rates on qualifying products.
The Premium Banking service is built around the core of Abbey International’s Gold account, a multi currency, internet enabled current account which offers a range of benefits including Visa Infinite deferred debit cards and Monthly Offshore Saver, a high interest regular savings account.
A second version of the 5-Year Fixed Rate Saver account paying an attractive 4.00% gross/AER is also available for clients who have not signed up for Premium Banking which is linked to an Abbey International Call account, again offering multi currency banking facilities and internet access.
In both cases, a minimum deposit of GBP50,000 is required to open the account, with no additional deposits or withdrawals permitted during the five year term, although additional accounts can be opened to accommodate further deposits, if the account is still available. Interest is paid annually on the anniversary date of the account opening and either transferred to a Gold or Call account, depending upon which option the client has selected.
Commenting on the new account, Head of Client Experience Jane Matthews said, “This new account offers our clients a known and stable rate of return for the next five years and complements our other shorter term fixed rate savings accounts, such as our 18 month account. As a part of our Premium Banking services, clients can expect a more personalised service, ideally suited to the demanding lifestyle many of our clients may have.”
Abbey International is part of the Global Division of Santander Private banking. The Santander Group has more than 150 years experience in banking, with clients all over the world.
For further information on banking with Abbey International in Jersey call +44(0)1534-828-828 or log onto www.abbeyinternational.com
For media use only and not to be relied on by consumers to make financial decisions.
Notes to Editors:
Abbey International is located in Jersey, a secure, well-established and politically stable financial centre, which is renowned internationally for its high standards of regulation. Jersey’s unique constitution and relationship with the British Crown dates back hundreds of years. This provides for a unique legal and neutral tax system that can provide significant wealth planning opportunities for the international investor.
Abbey international has a minimum balance entry requirement of GBP50,000 (or currency equivalent) across our portfolio of products. The minimum balance amount can be spread across a range of accounts, subject to the minimum opening deposit for each account being met.
All deposits carry the full and unconditional guarantee of Santander UK plc, itself a wholly owned subsidiary of the Santander Group.
Santander has more than 150 years’ experience in banking and more branches worldwide than any other international bank.
About Banco Santander
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets. At the end of 2008, Santander was the largest bank in the euro zone by market capitalization and third in the world by profit. Founded in 1857, Santander had EUR 1,271 billion in managed funds at the end of 2008. Following the acquisition of Sovereign Bancorp. of the U.S. in January 2009, Santander had 90 million customers, around 14,000 branches – more than any other international bank – and over 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm. In the first half of 2009, Santander registered EUR4,519 million in net attributable profit.
In the UK, Santander operates two retail businesses – Santander, which was formed out of the Abbey and Bradford & Bingley retail network, and Alliance & Leicester. Together they have over 1300 branches, around 4,500 cash machines and they provide a full range of retail and corporate banking services to 25 million customers.
Alliance & Leicester will become known as Santander by the end of 2010.
Guy Stephenson/Jennifer Duffy
Jane Matthews, Abbey International, Head of Client Experience