Isle of Man based savings specialists Bradford & Bingley International are offering fixed rate bonds with the option of emergency withdrawal.
Offshore savings bank Bradford & Bingley International have launched two new issues of their Fixed Rate Bonds (Issue 40 & 41).
Fixed Rate Bond Issue 40 is a limited edition 1 year bond and is available now for a short period only. The bond can be opened with a deposit of just £5,000 with deposits earning 6.10% for balances of £5,000 to £49,999, £50,000 to £99,999 earning 6.40% and balances of £100,000 and above earning 6.50% with interest payable on maturity 29 May 2009. Monthly interest is also available paying up to 6.30% with interest paid away on the last day of each month
Fixed Rate Bond Issue 41 is an 8 month bond and is available now for a limited period only. Issue 41 can be opened with deposits of £5,000 or more with deposits of £5,000 to £49,999 earning 6.20%, £50,000 to £99,999 earning 6.50% and deposits of £100,000 and above earning 6.60% gross with interest payable on maturity 30 January 2009.
Despite both issues offering a fixed rate, customers have the added convenience of an emergency withdrawal option should the need arise. Customers requiring access to their funds before the maturity date can do so subject to a 90-day interest penalty on the funds withdrawn. Conventionally funds committed to fixed rate bonds were tied up until maturity. This feature will give customers the flexibility to react to any unforeseen changes in their circumstances during the period of the deposit.
These fixed rate bonds offer comfort to all bond customers that the rate offered is fixed throughout the life of the bond regardless of changes in the Bank of England Base Rate.
More information on Fixed Rate Bond (Issue 40 & 41), including Terms and Conditions and an application pack, can be found on the Bradford & Bingley International website, www.bbi.co.im
Alternatively call+ 44 (0) 1624 695000 to receive an application pack by post.
Note to editors
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).