Derbyshire Offshore Increases Deposit Rates

by Carla Johnson, Investors Offshore.com

24 August 2006

IOM-based Derbyshire Offshore is offering higher deposit rates, and also a new, limited edition Secure Index Linked Saver account linked to growth in the FTSE 100 index.

Following the recent UK base rate rise, the Base Rate Tracker from Derbyshire Offshore is now paying a competitive 4.75%, effective 1 September 2006.

The new Secure Index Linked Saver offers potential returns of up to 65% of any growth in the FTSE 100 index over a three year term, with the added guarantee of 9% minimum return at maturity. The original deposit is 100% secure and is returned in full at the end of the term.

Fiona Passey, Director of Offshore Banking, Derbyshire Offshore commented, “Following the research we carried out last year, a large number of our customers felt we should develop a new savings account that geared its return to the growth of well-known indices such as the FTSE 100 index. However, as the recent stock market volatility has demonstrated, capital security is also very important, so any new product in this area had to reflect this. We responded with our new range of limited edition Secure Index Linked Saver accounts that offer a secure deposit as well as the potential returns from the UK Stock Market.”

Investors can start saving from 1 September 2006 up to 30 September 2006, subject to availability. As a reward for early deposits, they will receive an early investment bonus of 0.40% on the amount deposited by 15 September and 0.20% on the amount they deposit by 29 September. The bonus payments will be added to their original deposit, thereby increasing the balance in their account at the start date of 1 October 2006.

Starting date for the Secure Index Linked Saver is 1 October 2006 and the account matures on 7 October 2009.

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

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