Offshore savings bank releases fixed rate bonds

BBI - offshore savings bankIsle of Man based savings bank, Bradford & Bingley International, has launched two new fixed rate bonds.

A limited edition one year bond (Fixed Rate Bond Issue 40), is currently paying up to 6.50% with interest paid on maturity on 29 May 2009. The bond also offers a monthly interest option with up to 6.30% being paid on the last day of each month.

An eight month bond is also available (Fixed Rate Bond Issue 41) which pays up to 6.60% gross with interest payable on maturity on 30 January 2009.

Both bonds offer a fixed rate of interest regardless of changes in the Bank of England Base Rate and can be opened with a minimum deposit of £5,000.

The bonds also offer an emergency withdrawal option, allowing customers to access their funds before the maturity date, subject to a 90-day interest penalty on the funds withdrawn.

Conventionally funds committed to fixed rate bonds are tied up until maturity but this feature offers bond holders the flexibility to react to any unforeseen changes in their circumstances during the period of the deposit.

Bradford & Bingley International is a leading offshore savings bank that specialises in a range of tax efficient savings accounts for international and expatriate customers.

More information on the fixed rate bonds can be found at the Bradford & Bingley International website, by phoning + 44 (0) 1624 695000.

Note to editors

Information about Bradford & Bingley International can be found at the following web address –

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).