Derbyshire Offshore Offering 1 to 3-Year Fixed Rates

by Carla Johnson, Investors Offshore.com

04 October 2006

IOM-based Derbyshire Offshore says that now is a good time for savers to lock into the new Manx Bond fixed rates from Derbyshire Offshore, with many commentators saying that we might be near the top of the interest rate cycle.

The 1 year Manx Bond fixed rate is now paying 5.40% gross, while the 3 year Manx Bond fixed rate remains at 5.20% gross.

Derbyshire Offshore has retained its monthly interest option for both Bonds giving the 1 year fixed rate Manx Bond a monthly gross interest option of 5.25% and the gross annual equivalent rate of 5.38% and the 3 year fixed rate Manx Bond a monthly gross interest option of 5.05% and the gross annual equivalent rate of 5.17%.

For those savers looking for a good return over a period of less than 12 months, 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 £5,000 and a maximum investment of £2m. The interest rate and term of investment are fixed on the date of investment.

Fiona Passey, Director of Offshore Banking, Derbyshire Offshore comments, “During periods of interest rate volatility the reassurance of a guaranteed fixed rate can help with budgeting. Moreover, the monthly income option is a valuable tool for those savers who are retired.”

These competitive Manx Bond rates are only available until 31 October 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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