Skipton International restructures bond range and raises two year rates

Monday 02 August 2010

- 2 Year offshore sterling bond paying 3.25% gross AER
- 12 month offshore sterling bonds paying 2.40% gross AER
- Fixed rates of interest
- Monthly interest options available over 12 months

Skipton International Limited has restructured its fixed rate bond range, increasing the interest rate on its 2 year product and launching a further offering of the 12 month account. The 6 month bond has now been withdrawn.

The 2 year International Reserve Bond pays 3.25% gross AER, with interest payments on 30 September 2011 and again on maturity on 30 September 2012.

The 12 month International Reserve Bond offers an annual return of 2.40% gross AER or a monthly income option paying 2.30% gross monthly (2.32 AER).

Maturity dates are 30 September 2011 for the 12 month bond and 30 September 2012 for the 2 year option. Both products are limited edition issues which will be withdrawn when fully subscribed, so savers are advised to move quickly. Each bond has a minimum deposit of £10,000. 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, but no withdrawals are allowed during the fixed rate terms.