Skipton Guernsey restructures savings rates

Skipton Guernsey Limited (SGL) has restructured their popular savings product range, with effect from 9 January 2008.

New investment tiers and rates are now available on their Sterling Access, Sterling Access Plus, Sterling Thirty and Sterling Sixty Accounts as well as their Sterling Island Ninety Account, available for both Guernsey residents and offshore savers.

Ken Jones, Manager – Investments, SGL comments, “We have taken the opportunity, following December’s 0.25% rate reduction in UK base rate, to restructure and further simplify our savings product range to offer the best value possible for our customers. Now the first tier break is £100,000 across our whole range. This has, in some cases, lessened the impact of the 0.25% rate reduction. The restructuring is part of our commitment to offering attractive rates and products to our customers. Now they can benefit from a rate of 6.25% gross pa/AER on all balances over £100,000 with our Sterling Island Ninety Account. Our popular Sterling Access Plus Account pays 5.55% gross pa/AER on all balances from £25,000 - £99,999 and 5.75% gross pa/AER for balances of £100,000 or more.”

SGL’s Sterling Thirty Account is now paying 5.25% gross pa/AER on balances from £10,000 - £100,000 and 5.50% gross pa/AER on balances over £100,000. Sterling Sixty Account is now paying 5.60% gross p.a./AER on balances from £10,000 - £99,999 and 5.75% gross pa/AER on balances over £100,000. Sterling Access Account is now paying 5.00% gross pa/AER on balances from £10,000 - £99,999 and 5.25% gross pa/AER on balances over £100,000.

Skipton Guernsey’s Sterling Island Ninety still includes a unique feature for existing Skipton Guernsey mortgage borrowers. Although normally a 90 day notice account, no notice is required for Skipton Guernsey’s mortgage clients, giving them instant access to consistently attractive savings rates.

SGL has kept the £10,000 minimum opening balance for its Sterling Island Ninety, Sterling Thirty and Sterling Access accounts, with a £25,000 minimum opening balance for its Sterling Sixty and Sterling Access Plus accounts.

The new rates apply from 9 January 2008.

For further information on SGL’s simplified investment product range, visit skiptonguernsey.com.