Offshore bank Bradford & Bingley International has launched a new sterling savings bond designed to appeal to expatriates and members of the international community.
The eBond Issue 2 account comes with a competitive interest rate of 6.40% which is paid when the bond matures on 30 January 2009. The online savings bond offers a fixed rate of interest despite any reduction in the UK base rate as well as the convenience of online access.
Fixed rate bonds have seen a surge in popularity following the recent drop in the Bank of England’s base rate to 5.50% and news that a further two cuts are expected in 2008.
Bradford & Bingley International’s first Internet bond, the eBond Issue 1, proved so popular it had 5 times as many subscribers than the bank expected. Acting Managing Director Lynette Byrne said “eBond Issue 1 far exceeded our expectations and showed us that there was a clear customer need for a fixed rate account with internet availability.”
Isle of Man savings bank Bradford & Bingley International offers a range of internet savings accounts to predominantly British expatriate customers in Europe and over 125 countries around the world.
More information on eBond Issue 2 including the terms and conditions is available on the Bradford & Bingley International website under offshore savings accounts.
Contact:
Bradford & Bingley International
30 Ridgeway Street
Douglas, Isle of Man, IM1 1TA
enquiries@bbi.co.im
+ 44 (0) 1624 695000
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).