Abbey International Reports Strong Take Up of Best Buy 3 and 5 Year Deposits

ST HELIER, Jersey, August 23, 2010 /PRNewswire/ -- Abbey International has reported strong levels of interest in its latest round of medium term fixed rate accounts over both three and five year terms.

The five year account is a Best Buy according to Moneyfacts (source http://www.moneyfacts.co.uk) and offers clients a return of 4.25% gross/ AER over five years.

Abbey International is also offering a further Moneyfacts best buy with its offshore three year fixed rate bond paying 3.85% gross/AER.

Head of Client Experience Jane Matthews comments, "In the past, it has been unusual to see strong interest in longer term fixed rate savings when interest rates are at a low point in the cycle and are predicted to rise. However, both our three and five year offshore fixed rate Bonds have seen strong demand, which may well be a reaction to the fact that UK Base Rate is expected to remain at a low level by many commentators for some time yet."

Applicants wishing to open a five year account will also need to open an Abbey International sterling Call Account to receive their annual interest, but as the Call Account is a no notice account offering unlimited access to funds, clients will then enjoy easy access to interest received. The minimum balance required to open the 5 year account is GBP50,000. The three year account has a minimum balance requirement of GBP100,000, with interest again paid away annually.

Both accounts are being marketed on a limited offer basis, so will be withdrawn when fully subscribed.

For further information on banking with Abbey International in Jersey call + 44(0)1534-828-828 or log onto http://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.

    Media Contacts:
    Guy Stephenson/Jennifer Duffy
    Nacelle Ltd
    +44(0)20-8333-9125
    [email protected]

    Jane Matthews, Abbey International, Head of Client Experience
    +44(0)1534-828137
    [email protected]

SOURCE Abbey International

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