The newly-launched Reward Bank Account from Abbey provides customers with a benefits package worth more than £400.
Consumers who decide to choose the current account will receive a fixed credit rate of 6% for a year, travel insurance cover worth £150 and assistance in the event of the loss or theft of a credit or debit card in exchange for £10 per month.
The financial services provider claimed that the account's added benefits could save customers £310 a year.
Emma Walkley, Abbey current account manager, said: "This new current account gives those looking to review their banking needs a different option, and one that will give them the highest credit interest rate available on a packaged current account, alongside some very useful benefits, and potentially saving hundreds of pounds."
She added that the account was created to give consumers more value for money.
Abbey is to be rebranded as Santander during the first quarter of 2010.
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