Skipton aims for the top with new 4% bond launch
Skipton International Limited has aimed for the top with the launch of its new 3 Year International Reserve Bond which pays savers an impressive 4% gross AER irrespective of whether annual or monthly interest is required. Recognising the particular needs of the retirement saver, Skipton International has moved to boost the income payable to monthly savers to ensure it matches that available via the bond’s annual rate. The return of 4% is also comfortably ahead of both UK and Guernsey CPI inflation, giving savers a real post inflation uplift on savings.
With a minimum deposit of just £10,000 and all balances earning the same high rate of return, the account is expected to be very popular. It is being offered on a strictly first come first served basis and the Bond will be withdrawn as soon as it has reached its funding limit.
The monthly income rate is 3.93% gross or 4.00% AER which is paid on the last banking day of each month.
Annual interest will be paid on 30 June, with the first payment being made on 30 June 2013 and again each year until maturity of the account in 2015. Interest can be capitalised or paid away to an account of the customer’s choice, but additional funds cannot be added or withdrawn during the three year term. At the end of its three year life, customers will be provided options to withdraw or transfer funds to another account, allow the deposit to roll into a new three year bond or make additional deposits. Full details of the account are available on the Skipton International website savings page.
Commenting on the new Bond, Managing Director Jim Coupe said, “We have moved to offer both monthly income customers and those seeking to protect and grow capital in a low risk environment a very attractive rate of return of 4.00 gross AER. This high interest rate is guaranteed every year for the three year life of the International Reserve Bond. Our latest Skipton International 3 Year Bond complements our extensive range of easy access and notice accounts, such that savers can now choose from easy access through 40, 80, 120 and 180 day notice options as well as from our one to three year term bonds.”
Skipton International Ltd is part of Skipton Building Society, the fourth largest in the UK with nearly £14 billion of assets.
For more information on Skipton International savings products, visit skiptoninternational.com.