ISLE OF MAN, British Isles, 13th May 2009 – Savings specialist, Bradford & Bingley International (BBI) has launched a new 1-year fixed rate savings bond along with a new variable rate Tracker Bond, which tracks at up to 3.00% above the Bank of England Base.
Fixed Rate Bond (Issue 59) offers savers annual or monthly interest at a rate of 3.00% p.a. AER. The fixed rate bond matures on 28th May 2010.
Tracker Bond (Issue 3) is also a 1-year Bond offering a variable interest rate with tiered tracking levels of up to 3.00% above Bank of England Base Rate, again with annual and monthly interest options.
Both have limited availability and will close on 29 May 2009 or before if fully subscribed.
BBI’s Managing Director, John Pearson commented “Bonds are proving to be extremely popular with savers in the current low interest rate environment. I am pleased that we have been able to offer a choice between a 3% fixed rate or a tracker bond which will pay at least 3% for the next year for those who qualify for that tracking level.”
BBI are now part of Abbey and the Santander Group. Customers can be confident in Santander’s AA rating from Standard & Poor’s and that deposits with Bradford & Bingley International are covered by the full and unconditional guarantee of Abbey.
More information on Fixed Rate Bond (Issue 59) and Tracker Bond (Issue 3), including Terms and Conditions and an application pack, can be found on the Bradford & Bingley International website, www.bbi.co.im or alternatively call + 44 (0) 1624 695000 to receive an application pack by post.
Note to editors: For further information, please contact BBI on +44 (0)1624 695000 or visit www.bbi.co.im
Fixed Rate Bond (Issue 59)
Balance On maturity %
Gross p.a. AER Monthly %
GBP10,000 and above 3.00% 2.96% (3.00% AER)
Tracker Bond (Issue 3)
Balance On maturity %
Gross p.a. AER Annual Guarantee Monthly %
Gross p.a. Monthly Guarantee
GBP5,000 to 49,999 Currently 3.00% UK Base Rate + 2.50% Currently 2.96%
[3.00% AER] UK Base Rate + 2.40%
GBP50,000 to 99,999 Currently 3.25% UK Base Rate + 2.75% Currently 3.20%
[3.25% AER] UK Base Rate + 2.70%
GBP100,000 and above Currently 3.50% UK Base Rate + 3.00% Currently 3.45%
[3.50% AER] UK Base Rate + 2.95%
EU Savings Directive rules apply to EU resident depositors.
AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid to the account once a year.
Under Isle of Man legislation, deposits made with an Isle of Man office of Bradford & Bingley International Limited are covered by the Isle of Man Depositors Compensation Scheme.
Bradford & Bingley International Limited is registered in the Isle of Man No. 052221C. Registered Office: 30 Ridgeway Street, Douglas, Isle of Man, IM1 1TA, British Isles. Licensed by the Isle of Man Financial Supervision Commission to take deposits.
SOURCE: Bradford & Bingley International