Friday 25th August 2006
Abbey has announced that it has increased the interest it pays on many current accounts.
Following the Bank of Englands Monetary Policy Committees (MPC) decision to raise the base rate by 0.25 per cent to 4.75 earlier this month, Abbey has decided to make a similar move on its savings accounts.
From September 1st, the companys rate on its popular eSaver package will rise 0.25 per cent to 5.3 per cent, while the Flexible Saver will increase by the same figure to 3.6 per cent.
Customers using Abbeys Branch Saver and Postal accounts will also see their money working harder from next month, with the interest rates on both accounts again set to rise by 0.25 per cent.
Abbey is one of a number of firms that has not been hurried in to announcing changes to its savings accounts rates, with many outfits thought to have been surprised by the MPCs announcement.
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