Earn 6% interest with Abbey’s packaged account

Earn 6% interest with Abbey's packaged account

Abbey is paying a 6% interest rate to its premium current account holders.

The Santander-owned bank is offering the rate on balances up to A?2,500 to customers opening the new Abbey Reward Account.

To benefit from the headline rate, customers must deposit at least A?1,000 per month into the account.

Other benefits of the A?10-per-month packaged current account include annual worldwide travel insurance for two adults and up to four children, Green Flag breakdown cover, a A?100 interest-free overdraft, commission free travel money, and identity protection.

Abbey estimates the benefits are worth up to A?310 per year if put to full use.

However, price comparison site Moneyfacts.co.uk warned that “packaged accounts do not suit everybody”.

Savers considering a packaged account should make sure they get their “moneya��s worth from the benefits,” a Moneyfacts spokesperson said.

The Abbey Bank Account, which does not have a monthly fee, also pays 6% interest on balances up to A?2,500 when the account is credited with at least A?1,000 per month.

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