Derbyshire IOM Offers Incentive Interest Rate

by Carla Johnson, Investors Offshore.com

02 May 2006

Isle of Man bank Derbyshire Offshore has launched a 10-day saver account with an interest rate of up to 4.95% Gross/AER, including an introductory bonus of 0.5% until 31 December 2006, and offering both monthly and annual interest.

Available from just GBP2,5000 minimum balance, after the introductory period the account offers a guarantee that it will be no more than 0.25% below the Bank of England Base Rate (0.40% for monthly interest), making the competitive rates easy to follow and the account particularly attractive.

Fiona Passey, Director of Offshore Banking, Derbyshire Offshore comments, “We have responded to research which showed a need for a highly rated account offering a variety of features. This account has a low initial balance, a choice of interest payment options and a higher rate with a long term guarantee, so you can be sure the returns will remain competitive over the medium term.”

Monthly interest on the 10 Day Saver account is paid at the beginning of the month, whilst annual interest can be taken in January or April, to help with tax planning. Fiona Passey continues, “We felt it was important to be able to offer our customers the maximum flexibility with payment of interest, so this account will appeal to both working and retired alike. We believe that our 10 Day Saver account is a competitive and attractive mix of market leading rate, rate guarantee and flexibility to help make savings grow more quickly.”

The account is available to companies, with a minimum opening balance of £100,000.

Derbyshire Offshore is the trading name of The Derbyshire (Isle of Man) Limited, and is wholly owned by Derbyshire Building Society.

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