Savings specialists Bradford & Bingley International (BBI) have released a fixed rate offshore bond paying up to 6.30% interest.
The Fixed Rate Bond (Issue 39 has an emergency access provision, giving savers the flexibility of no-notice withdrawals subject to 90 days interest penalty.
Bradford & Bingley International has seen a surge in demand for fixed rate bonds due to widespread expectation that the Bank of England will reduce the UK base rate by 0.25% in either April or May.
The new account can be opened with a minimum balance of £5,000. Savers can choose to receive their interest either on maturity or at the end of each month, thus giving customers a regular income from their deposit.
Bradford & Bingley International, an offshore savings bank on the AAA rated Isle of Man, offers a range of tax efficient offshore savings accounts for the international and expatriate communities, as well as Isle of Man and Channel Island residents.
The bond is available until 30th April 2008 but may close sooner if it becomes fully subscribed.
More information on Fixed Rate Bond (Issue 39) can be found on the Bradford & Bingley International website, www.bbi.co.im.
Note to editors
Interest rates are as follows.
On Maturity Monthly (Must be paid away)
£5,000 – £99,999 6.15% 6.00%
£100,000 and above 6.30% 6.15%
Information about Bradford & Bingley International can be found at the following web address – www.bbi.co.im
Bradford & Bingley International Limited is licensed by the Isle of Man Financial Supervision Commission to conduct banking business and is a wholly owned subsidiary of Bradford & Bingley plc
Bradford & Bingley plc has given a legal undertaking agreeing to discharge the liabilities of Bradford & Bingley International Limited in so far as Bradford & Bingley International Limited is unable to discharge them out of its own assets and while Bradford & Bingley International Limited remains a subsidiary of Bradford & Bingley plc. Under Isle of Man legislation, deposits made with an Isle of Man office of Bradford & Bingley International Limited are covered by the Depositors Compensation Scheme contained in the Banking Business (Compensation of Depositors) Regulations 1991 (as amended).