Bradford & Bingley International, a specialist provider of offshore savings accounts for British expats, has announced it will leave the interest rate of its top online savings account unchanged, despite two recent cuts in the Bank of England base rate.
The online eSaver account will retain its 6.40 percent interest rate for expatriate savers investing from GBP 1,000. The high rate is available on savings accounts for British expats who do not exceed three withdrawals during each tax year. Those making four or more withdrawals are offered interest at 5.90 percent, which remains 0.90 percent above the current Bank of England base rate.
“The offshore market has become very competitive and we are proud to be able to offer our customers one of the best rates available for easy access savings,” said Lynette Byrne, Acting Managing Director of Bradford & Bingley International.
“The added convenience of being able to operate this account online 24 hours a day makes it an exciting proposition that we are delighted to be able to offer British Expatriates and increasingly customers from the Isle of Man and Channel Islands,” she added.
Bradford & Bingley International is based on the Isle of Man and specialises in savings accounts for the British expatriate community. More information on BBI and its eSaver online savings account is available at www.bbi.co.im.
Note to editors
Information about Bradford & Bingley International can be found at the following web address – www.bbi.co.im
Bradford & Bingley International Limited is licensed by the Isle of Man Financial Supervision Commission to conduct banking business and is a wholly owned subsidiary of Bradford & Bingley plc
Bradford & Bingley plc has given a legal undertaking agreeing to discharge the liabilities of Bradford & Bingley International Limited in so far as Bradford & Bingley International Limited is unable to discharge them out of its own assets and while Bradford & Bingley International Limited remains a subsidiary of Bradford & Bingley plc. Under Isle of Man legislation, deposits made with an Isle of Man office of Bradford & Bingley International Limited are covered by the Depositors Compensation Scheme contained in the Banking Business (Compensation of Depositors) Regulations 1991 (as amended).
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