1 Year International Reserve Bond (issue 2)
A guaranteed fixed rate bond until 30 April 2011
| Investment |
Annual Rate
gross pa |
Annual Interest
AER |
Monthly interest
Gross rate |
Monthly interest
AER |
| £10,000 to £5 million |
2.40% |
2.40% |
2.30% |
2.32% |
When will the interest be paid?
Annual Interest will be paid at 30 April 2011 or monthly on the 15th of each month until maturity.
What happens to the interest?
Your interest can either be added to your bond or paid away to a suitable account with Skipton International or any other UK bank account in your name.
How can an account be opened?
Existing SIL clients only need to complete an Additional Account Opening Form. New clients will need to complete an application form and supply relevant identification and proof of address documents. Accounts may be opened by cheque, electronic transfer or BACS.
What access will the account offer?
No withdrawals are permitted during the fixed rate term.
Can further investments be made?
No further funds can be invested prior to the maturity date, however additional funds may be invested in the 14 day period following maturity. Additional bonds may be opened subject to availability.
Can the account be closed?
The bond must be held until maturity.
What happens on maturity?
The International Reserve Bond 1 year (Issue 2) matures at midnight 30 April 2011. SIL will write to you prior to this date with the options available to you on maturity. Thereafter you will have 14 days to make further deposits, withdraw funds or close the account without penalty. If we do not hear from you, your bond will automatically rollover to the new 1 year rollover bonds available at each maturity. After the 14 day period no further withdrawals or deposits may be made until the maturity of each subsequent 1 year bond.
The minimum opening balance is £10,000.
Please note that this is a limited issue offer and can be withdrawn at any time
Application Form
Application Form & General Terms and Conditions.
To view and print the Application Form, Terms & Conditions, Fax Indemnity and Nomination details, you must have the Adobe Acrobat reader or plug in.
If you wish to transfer funds to us by electronic transfer your bank will require the following details:
| Sort Code: |
40-22-25 |
| Swift Code: |
MIDLGB22 |
| IBAN: |
GB68MIDL40222592660148 |
| Bank Name: |
HSBC Bank plc |
| Account No: |
92660148 |
| Account Name: |
Skipton International Limited |
| Beneficiary: |
Your name/1 Year International Reserve Bond |
Please instruct your bank to make the payment as early as possible in the day so that the funds reach our account before 12 noon, UK time. This should ensure that your funds earn interest from the day of receipt. Funds received after this time will start earning interest from the next business day. Please ensure you have received confirmation your new account has been opened before sending funds to us. Also, please remember to read the 'Legal' section below and the Terms and Conditions of the relevant account before sending your money to us.
SIL will not accept any liability for delays in receipt of inward payments; agents' charges, where applicable, will be deducted from the amount credited to your account.
Funds received in any currencies other than that agreed will be converted to the appropriate currency at the prevailing rate of exchange at the time of the transaction.
*Gross means interest paid without the deduction of tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.