Isle of Man savings bank releases fixed rate bonds

Savings specialist Bradford & Bingley International, based in the Isle of Man, has launched two new fixed rate savings bonds.

For long term deposits, Fixed Rate Bond Issue 46 is a 1 year bond which pays 6.70% interest on maturity or 6.50% (6.70% AER) monthly.

For short term deposits, Fixed Rate Bond Issue 47 offers an interest rate of 6.00% fixed for 3 months, with interest paid on maturity. Both bonds are available for balances over £5,000.

Bradford & Bingley International is now part of Abbey and the Santander Group, which has an AA/Stable rating from Standard & Poor. Deposits with the offshore savings bank carry the full and unconditional guarantee of Abbey.

Managing Director John Pearson said, “With the recent reduction in Bank of England Base Rate to 4.50% these bonds represent a great opportunity for savers in what are difficult times. The added security offered by Abbey’s take-over of Bradford & Bingley International will give savers that all important peace of mind as to the safety of their deposit.”

More information on Bradford & Bingley International’s fixed rate bonds can be found at www.bbi.co.im or by calling + 44 (0) 1624 695000.

Note to editors

Information about Bradford & Bingley International can be found at the following web address – www.bbi.co.im

EU Savings Directive rules apply to EU resident depositors.

AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid to the account once a year.

Under Isle of Man legislation, deposits made with an Isle of Man office of Bradford & Bingley International Limited are covered by the Isle of Man Depositors Compensation Scheme.

Bradford & Bingley International Limited is registered in the Isle of Man No. 052221C. Registered Office: 30 Ridgeway Street, Douglas, Isle of Man, IM11TA, British Isles. Licensed by the Isle of Man Financial Supervision Commission to take deposits.

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