Bradford and Bingley International, an offshore savings bank, have announced the launch of a new one year fixed rate savings bond.
Fixed Rate Bond (Issue 44) comes with a competitive interest rate of up to 7.00% and matures on 31st August 2009. The online savings bond offers a fixed rate of interest regardless of any reduction in the UK base rate, with the option of having interest paid monthly or on maturity.
The offshore bond also offers an emergency access facility, allowing customers to access their funds at any time, subject to a 90-day interest penalty on the amount withdrawn.
Fixed Rate Bond (Issue 44) is limited in availability and is allocated on a first come first serve basis.
The final date for funds to be received into the bond is 29th August 2008 or sooner if fully subscribed.
Bradford & Bingley International is an offshore savings bank based on the AAA rated Isle of Man. It offers a range of savings accounts for international and expatriate customers as well as Isle of Man and Channel Island residents.
See the Bradford & Bingley International website for more information on the Fixed Rate Bond (Issue 44).
Note to editors
Interest rates are as follows.
On Maturity Monthly
£5,000 and above 7.00% 6.78% (AER 7.00%)
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).