Derbyshire Maintains High Offshore UK Interest Rates

by Carla Johnson, Investors Offshore.com

05 September 2006

With UK interest rates possibly at their peak, IOM-based Derbyshire Offshore has held its 1-year Manx Bond fixed rate at 5.35% gross/AER for the second month.

The 3 year Manx Bond helps out with medium term saving by paying 5.20% gross/AER.

Derbyshire Offshore is also able to offer Money Market accounts, which at the moment reflect short term high rates in the markets. A Derbyshire Offshore Money Market account is a premium investment with fixed interest rates for the term of the deposit – the investment is available at 1, 2, 3 or 6 months with a minimum investment of GBP5,000 and a maximum investment of GBP2m. The interest rate and term of investment are fixed on the date of investment.

Fiona Passey, Director of Offshore Banking comments, “With interest rates having now edged up, our 1 year fixed rate Manx Bond at 5.35% gross/AER should help retired savers looking to supplement their savings. For general savers as well, this rate offers a chance to grow their capital and tie in to a high, guaranteed fixed rate that will not change, even if the UK Base Rate falls in the meantime. For clients who have sold a property or business and have a lump sum, the Money Market Account offers great flexibility while you plan what to do next with your money – and the returns far outstrip those offered by the high street banks.”

These Manx Bond rates are only available until 30 September 2006 and are limited issue products. Applications may be refused if they are fully subscribed.

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

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