International savings specialist Bradford & Bingley International has launched a limited issue fixed interest rate bond for financial institutions.
The new offshore fixed rate bond will appeal to corporate investors, trustees, Independent Financial Advisors and Life Companies in the UK, Ireland, Channel Islands and Isle of Man.
Prestige Fixed Rate Bond (Issue 18) provides corporate investors the opportunity to offer their customers the benefits of placing deposits offshore at a rate over 1% above the current UK Base Rate with interest paid gross.
The bond pays 6.30% p.a. for balances of £10,000 and above with a maturity date of 8th April 2009 taking investors into a new tax year. An additional attractive feature of the product is the availability of emergency withdrawals.
While the bond is not designed to permit withdrawals, there is, nonetheless, the facility to withdraw some or all of the balance subject to the loss of 90 days interest on the amount withdrawn, should an emergency arise.
Bradford & Bingley International is a leading offshore savings bank based on the AAA rated Isle of Man. BBI have been offering tailored savings solutions to financial institutions for over 16 years.
For further information, please contact Bradford & Bingley International on + 44 (0) 1624 695050, or corporate@bbi.co.im.
Note to editors
Interest rates are as follows.
On Maturity
£10,000 and above 6.30% p.a.
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).
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