Scarborough launches two-year bond paying 6.30%

Scarborough Channel Islands Limited (SCIL) is offering a market-leading new Scarborough Offshore Bond.

Scarborough Building Society’s new offshore subsidiary, SCIL has today launched the limited edition Bond at a rate of 6.30%, fixed for two years.

The product is available with a minimum opening balance of £5,000, up to a maximum of £1,000,000.

Interest can be taken either annually at a rate of 6.30%, or monthly at 6.10%. No withdrawals or deposits are permitted after opening.

Robin Litten, of SCIL, said: ‘This outstanding offer is a further signal of our intentions to build on the success of this offshore business by introducing fantastic value new products – as well as further developing its service offering.

‘We hope the new bond will appeal to investors looking to lock into a high guaranteed rate until 2009.’