Derbyshire Offshore Guarantees Interest Rates For 2 Years

by Carla Johnson, Investors Offshore, London

02 January 2007

IOM-based Derbyshire Offshore's easy access 10 Day Saver account is paying new variable interest rates, effective 1 January 2007. Available from just GBP2,500 minimum balance, the 10 Day Saver account now pays up to 5.10% gross annual interest with a choice of annual or monthly interest payment options adding flexibility for customers.

From 1 January 2007 until 31 December 2008, Derbyshire Offshore is guaranteeing to pay annual interest rates no more than 0.25% below the Bank of England Base Rate; the guaranteed rate for monthly interest rate will be no more than 0.40% below the Bank of England Base.

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. Just 10 days notice is required for withdrawals without loss of interest.

The account is also available to companies, with a minimum opening balance of GBP100,000.

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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