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11 MILLION LOOK TO TAKE ADVANTAGE OF FREE SERVICES

09 Feb 2009

11 million Brits agree that the best things in life are free. That’s according to new research from Abbey Savings which has discovered a growing number of people on the look out for free goods and services.(1)  Amazingly the average person is reducing their outgoings by as much as £246 – 12 per of the average persons monthly earnings.(2) 

The research found that almost one in four adults (24 per cent) have cut their leisure costs by visiting public libraries and museums for free in the past year - saving an estimated £77 per month each.

Brits are also looking to cull monthly subscriptions with almost one in ten people (7 per cent) swapping their gym membership for a jog in their local park or the cycle to work. A further 8 per cent have traded in their TV subscription for Freeview.

Even foreign holidays are being reconsidered with almost 21 per cent of Brits now  considering trading a holiday abroad in favour of staying at home and visiting free public attractions.

Reza Attar-Zadeh, Director of Savings and Investments at Abbey:  “Britons are finding more and more ways to make their cash go further and it’s now even being reflected in our leisure time. Clearly having fun doesn’t have to cost money! But for those people making savings the question is now how to make this money go further. With Abbey’s new issue Fixed Rate Monthly Saver, savers can enjoy rates of 4.50% gross/AER fixed for one year, while the Super version provides a return of 6.50% gross/AER.” 

Fixed Rate Monthly Saver (Issue 9)

A great fixed interest rate of 4.50 per cent gross p.a./AER  interest for 12 months when you make no withdrawals, as long as you pay in between £20 and £250 a month by standing order and don't touch your money.

Super Fixed Rate Monthly Saver (Issue 6)

Offers savers 6.50 per cent gross p.a./AER fixed for 12 months provided no withdrawals are made and savers deposit between £20 and £250 per month by standing order. To qualify for the 6.50% rate, savers must take out a regular investment, pension or ersonal protection plan with Abbey.

- Ends -

The information contained in Abbey's press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Abbey and the flame logo are registered trademarks.

Note to Editors

1) Opinium questioned 2000+ adults on 16th January 2009
2) Based on ONS average earning figures

Abbey and Santander

Santander (SAN.MC, STD.N) is the largest bank in the euro zone by market capitalization and fifth in the world by profit. Founded in 1857, Santander has EUR 912,915 million in assets and EUR 1,063,892 million in managed funds, 65 million customers, 11,178 branches and a presence in 40 countries.

It is the largest financial group in Spain and Latin America, and is the sixth largest bank in the United Kingdom, through its Abbey subsidiary, and is the third largest banking group in Portugal. Through Santander Consumer Finance, it also operates a leading in 12 European countries (Germany, Italy and Spain, among others) and the United States. In 2007, Santander registered €9,060 million in net attributable profits, an increase of 19% from the previous year.  In Latin America, Santander manages over US$300 billion in business volumes (loans, deposits, mutual funds and managed funds) through 4,498 offices. In 2007, Santander reported $3,648 million in net attributable income in Latin America, 27% higher than the prior year.

In the UK, Santander operates three retail businesses – Abbey, Alliance & Leicester and Bradford & Bingley.  Together they have 1286 branches, over 5,000 cash machines and they provide a full range of retail and corporate banking services to 24 million customers.

Media Enquiries

Susan Hannums      Tel: 020 7756 4190   Mobile : 07920 297414
Siobhan O’Shea       Tel: 020 7756 4189       

The Abbey press office operates from 8.00am to 6.00pm.  Outside of these hours please call 0800 5877708.



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