Offshore Savings Bank Launches Two Fixed Rate Deposit Accounts

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Isle of Man based offshore savings bank Britannia International has launched new 1 year and 18 month fixed rate savings accounts.

Isle of Man based offshore savings bank Britannia International has launched new 1 year and 18 month fixed rate savings accounts.

The accounts reward savers for placing funds over a fixed period with no withdrawals permitted during the term. The accounts are primarily aimed at British Expatriates, who may benefit from saving offshore, and Isle of Man residents.

Both fixed term savings accounts are limited in availability and sold on a first come first served basis.

1 Year Fixed Rate Deposit Account Issue 36

1 Year Fixed Rate Deposit Account Issue 36 provides tiered interest with a top rate of 3.30% gross per annum AER* on balances over £25,000 paid on maturity. For savers looking to receive a regular income from their savings, a monthly interest option is also available. The minimum savings balance for this account is just £5,000 with a maximum deposit balance of £1,000,000.

1 Year Fixed Rate Deposit Account Issue 36 Interest Rates
Effective 27 June 2011

Minimum Balance - £5,000 - £24,999
Annual gross p.a./A.E.R.* - 3.00%
Monthly gross p.a. - 2.70%
Monthly A.E.R.* - 2.73%

Minimum Balance - £25,000 - £1,000,000
Annual gross p.a./A.E.R.* - 3.30%
Monthly gross p.a. - 3.00%
Monthly A.E.R.* - 3.04%

*A.E.R. stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and added each year, rounded to two decimal places.

18 Month Fixed Rate Deposit Account Issue 5

18 Month Fixed Rate Deposit Account Issue 5 provides tiered interest with a top rate of 3.50% gross on maturity for balances over £25,000. A monthly interest option is also available for savers looking to receive a regular income from their savings. The minimum savings balance for this account is just £5,000 with a maximum deposit balance of £1,000,000.

18 Month Fixed Rate Deposit Account Issue 5 Interest Rates Effective 27 June 2011

Minimum Balance - £5,000 - £24,999
On Maturity gross - 3.25%
On Maturity A.E.R.* - 3.22%
Monthly gross - 2.95%
Monthly A.E.R.* - 2.99%

Minimum Balance - £25,000
On Maturity gross - 3.50%
On Maturity A.E.R.* - 3.47%
Monthly gross - 3.20%
Monthly A.E.R.* - 3.25%

*A.E.R. stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and added each year, rounded to two decimal places.

For more information on fixed rate deposit accounts from Britannia International or the full range of savings accounts on offer, visit http://www.britanniainternational.com.

NOTES:

Britannia International Limited is a wholly owned subsidiary of The Co-operative Bank plc in the UK, which is regulated by the UK Financial Services Authority.

Britannia International Limited is licensed by the Isle of Man Financial Supervision Commission to take deposits.

Britannia International Limited Registered Office: Britannia House, Athol Street, Douglas, Isle of Man, IM99 1SD, British Isles.

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Leanne Davies

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