2.40% AER on new 1 Year Fixed Rate Bond

8th March 2010

A new one year bond has been launched by Skipton International offering customers a fixed interest rate return over twelve months.

Annual interest is paid by the International Reserve Bond on 30 April 2011 on maturity of the Bond, with a monthly interest option also being available paying a fixed rate of 2.30% monthly, 2.32% AER, on the 15th of each month. On maturity, customers will be offered the opportunity to deposit additional funds and take advantage of a new fixed rate bond, or the account can be closed and funds withdrawn.

With a minimum deposit of £10,000, the Bond has been structured to offer customers maximum flexibility. Interest can be added to the opening balance, paid away to a separate bank account or paid to a savings account with Skipton International. The maximum deposit is £5 million. No access to funds is allowed once the account is open.

Commenting on the new issue of the International Reserve Bond, Skipton international commercial director Jim Coupe said, "Our customer feedback tells us that there is a strong demand for short term guaranteed interest rates, particularly against the background of continuing low Bank of England Base Rate. This account pays an attractive fixed rate of interest and will be particularly suited to customers using their offshore expat savings for income purposes."