Derbyshire Offshore Increases Sterling Interest Rates

by Carla Johnson, Investors Offshore.com

13 February 2006

Isle of Man firm Derbyshire Offshore has relaunched its 90-day deposit account with interest rates ranging from 4.5% up to 4.6% for varying amounts deposited.

Whilst many commentators expect a cut in UK interest rates over the next few months, Derbyshire Offshore has decided to improve the rate customers receive on its premium notice account, giving investors significantly more return on their savings.

Fiona Passey, Director of Offshore Banking comments, “Our relaunched 90 Day Notice account offers investors even better value for money with a competitive variable rate up to 4.60%. We’ve also reduced our minimum balance on this account to £2,500 to cater for offshore customers who want to start building a nest egg for their future.”

From 14 February 2006, new gross/AER 90-day notice rates are:

• GBP2,500 to GBP9,999, 4.40%
• GBP10,000 to GBP49,999, 4.50%
• GBP50,000 to GBP99,999, 4.55%
• GBP100,000 to GBP250,000, 4.55%
• GBP250,000 to GBP2m 4.60%.

Fiona Passey adds, “Interest on the account continues to be paid annually and investors can choose either 31 March or 30 April as their interest payment date, giving tax planning flexibility for those who are liable for tax on their savings. What’s more, with one of the lowest minimum transaction levels in the market at £100, Derbyshire Offshore provides an attractive savings portfolio with something for every investor.”

Derbyshire Offshore remains wholly owned by Derbyshire Building Society. Information at www.derbyshire.co.im.

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