Wide Range of Short Term Fixed Rate Accounts on Offer From Abbey International

ST HELIER, Jersey, May 10, 2010 /PRNewswire/ -- Abbey International has revamped its range of limited offer fixed rate deposit contracts to now offer clients a range of options from nine months out to two years.

Nine month deposits attract a rate of 2.00% gross/AER (1.50% rate over term), whilst twelve month deposits offer 2.60% gross/AER .The minimum opening balance for both is GBP50,000. The eighteen month option pays 3.08% AER (4.65% rate over term). The minimum opening deposit is GBP100,000. Interest is paid upon maturity in each case.

Two year deposits are available via the Abbey International Escalator Bond which pays 3.25% gross/AER in year 1, rising to 3.75% gross/AER in year two. The minimum opening balance is GBP100,000. To qualify for the Escalator Bond, prospective clients need to have opened, or be in the process of opening a sterling Gold account. Interest is received after 12 months, and again upon maturity of the account, when both capital and interest are paid into the Gold account.

Jane Matthews, Head of Client Experience at Abbey International, said: "We understand the importance of a known rate of return over shorter terms for clients in the current difficult market. Our portfolio of shorter term fixed rate products offer a varied choice of maturity dates, together with the backing that comes from being a part of the Santander Group, which has more than 150 years experience in banking all over the world."

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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