Skipton International launch new fixed rate bond

Skipton International launch new fixed rate bond

Skipton International are today (Friday 17 June) launching a new 1-year fixed product with one of the most competitive rates in the offshore market.

The new bond which matures 30 June 2017, offers an interest rate of 1.40% AER and is open to new and existing customers.

Managing Director Jim Coupe said, “As of today, on Moneyfacts, this product is market leading for 1-year deposits so we expect it to prove very popular. Skipton’s fixed rate bonds offer our savings customers the certainty and stability of a fixed rate, along with a good return.

“As our recent Moneyfacts Award for Best Offshore Account Provider indicates, we are committed to giving customers from the Channel Islands, and all around the world, the best personal service and to make the process of opening offshore savings accounts as straightforward as possible.”

Skipton International offers a range of offshore savings accounts including Notice, Easy Access, and Fixed Rate accounts, to Channel Island residents and British expats in over 100 countries around the world.

At the end of 2015 Skipton International reached £1.075 billion of deposits, making it equivalent to the 12th biggest building society in the UK. Skipton is also one of the largest providers of mortgages in the Channel Islands.

Earlier this month Skipton International won Best Offshore Account Provider 2016 at the Moneyfacts Awards. This is the third time Skipton has won this Moneyfacts Award, and the Channel Island-registered bank has been commended, highly commended, or has won an award for the past seven years.

The new account is available to private individuals, businesses, Trust Companies and Individual Pensions. Interest will be paid monthly or upon maturity on a minimum investment of £10,000 and a maximum of £5 million. Customers should be advised there is no early access available with this account and it must be held until maturity.

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