London (PRWeb UK) July 15, 2009
A new savings account from Abbey International (http://www.abbeyinternational.com) has been launched which is designed to appeal to clients with differing investment and savings needs. Unlike many structured accounts, income is available every six months, so providing the potential of a regular return twice a year. Whilst capital invested is 100% guaranteed at all times, investors have the option to choose between maximising income or guaranteeing a return with the new Abbey International Income Accelerator Account, a sterling 5 year structured account.
In both cases, capital deposited is linked to the performance of the FTSE 100, Dow Jones Euro Stoxx 50 and the S&P 500 indices between the strike date at launch and an average index level recorded every 6 months during the 5 years of the account.
Those aiming for maximum income can select the option which pays out a fixed rate of return of 3.40% gross every 6 months, providing that the closing levels of the three indices are equal to or higher than their strike date levels.
Investors choosing to achieve a return even in cases where an index shows no growth can earn up to 2.8% gross paid twice annually, subject to the indices meeting the same performance objective. If any of the indices do fall below their strike date levels, holders of this version of the product will still receive 0.5% gross.
Both options have a minimum opening balance of £25,000 or a maximum deposit of £5,000,000, with the account being a limited offer product which will be withdrawn on August 28th or earlier, if fully subscribed.
Commenting on the new Income Accelerator Account, Jane Matthews, Head of Client Experience said, "This account is ideally suited to those seeking regular income payments and as well, clients can choose the level of risk and return they are comfortable with. This reflects our own research which tells us that clients are looking for a blend of security and return in the current market. Additionally, all our accounts offer high quality service, value and security. While many are still rightly concerned about the stability of their bank, it will reassure clients opening this new account to know that Abbey International is part of the Santander Group, which has more than 150 years' experience in banking and has clients all over the world. Santander has an AA stable credit rating from both Fitch and Moody's credit rating agencies."
For further information on banking with Abbey International on Jersey call + 44 (0)1534 885 055 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 £50,000 (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 Abbey National 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. Together, Abbey and Santander are committed to serving our customers, helping you make the most of your money. In 2008, Abbey won the Euromoney 'Best UK Bank' award, and Santander won the Euromoney 'Best Global Bank' award.
Abbey and Santander
Banco Santander, S.A., (SAN.MC, STD.N), headquartered in Madrid, engages primarily in commercial banking with complementary activities in global wholesale banking, cards, asset management and insurance. Santander had over EUR 1.079 trillion in funds under management at Sept. 30, 2008, from more than 80 million customers* served through more than 13,000 branches - more branches than any other international bank. Founded in 1857, Santander is the largest financial group in Spain and Latin America and has a significant presence in Western Europe and in the United Kingdom, through its Abbey subsidiary. In the first nine months of 2008, Santander registered €6,935 million in attributable net profit, an increase of 16% from 2007, excluding capital gains.
In Latin America, (excluding Banco Real) Santander manages over US$200 billion in business volumes (loans, deposits, mutual funds, pension funds and managed funds) through 4,638 branches. In the first nine months of 2008, (excluding Banco Real) Santander reported EUR 2,167 million in net attributable income in Latin America.
*Includes, Alliance & Leicester, Bradford & Bingley savings and Banco Real.
For more information, see http://www.santander.com.
Guy Stephenson/Jennifer Duffy
020 8333 9125
Jane Matthews, Abbey International, Head of Marketing & Business Development