Up to 2.75% AER as two new Fixed Rate Bonds are launched by Skipton International
Two new fixed rate bonds have been launched by Skipton International offering customers competitive rates of interest over six and twelve month terms.
With a minimum deposit of £10,000, both Bonds offer a choice of annual or monthly interest. The 6 Month International Reserve Bond pays an equivalent fixed annual interest rate of 2.51% gross/AER or 2.40% gross monthly (2.43% AER) and matures on 31 July 2010.
The 1 Year International Reserve Bond matures on 31 January 2011 and pays a fixed annual interest of 2.75% gross (2.74% AER) or a monthly income of 2.65% gross (2.68% AER).
Interest can be added to the opening balance or paid away to a separate account. In both cases the maximum deposit is £5 million. No access to funds is allowed once the account is open.
Commenting on the two new Bonds, Skipton international commercial director Jim Coupe said, "Our customer feedback tells us that there is a strong need for simple to follow short term savings accounts in the current market. This account meets that customer need - it pays an attractive fixed rate of interest and customers have a choice of a six or twelve month period for their investment."
Skipton International Ltd offers a range of sterling, euro and US dollar accounts and is part of Skipton Building Society, the fifth largest in the UK with over £15 billion assets.
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European Union Savings Tax Directive
Information for all EU Residents (including the UK)
This communication outlines the changes implemented, by the Government of Guernsey, on 1 January 2011, to the EU Savings Tax Directive ("The Directive").
Automatic Exchange of Information
If you are resident in the EU (including the UK) gross interest will be paid to you and be subject to an automatic exchange of information with The Guernsey Income Tax Authority. This report will detail your full name, postal address, account number/s, date of birth, place of birth, tax identification number (if known) and the amount of interest added to your account/s. Thereafter this will be forwarded to the tax authorities in your country of residence.
If you are deemed to be "non-domiciled" for tax purposes in your country of residence, we may be able to pay you gross interest without the need to submit an exchange of information report. To arrange this we require confirmation of your tax status, e.g. a letter issued by the tax authorities in your country of residence or accountants.
Non EU residents will continue to receive gross interest and it remains the responsibility of individual investors to disclose the interest earned on their accounts to the relevant tax authorities.
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