Derbyshire Raises Offshore Interest Rates

by Carla Johnson, Investors Offshore, London

26 January 2007

Following the recent UK base rate rise, Derbyshire Offshore has increased the rates available on its range of deposit accounts, with effect from 1 February 2007.

Derbyshire Offshore’s Base Rate Tracker is now paying 5.25% Gross/AER, with a renewed interest rate link of + or – 0.25% to the Bank of England base rate until 31 December 2008. As general interest rates rise, the rate payable on this account will rise by a similar amount, so the rate customers earn should always be competitive.

Meanwhile, Derbyshire Offshore’s deferred interest account, the Interest Accumulator account is now paying up to 5.35% Gross/AER, giving clients tax planning advantages as well as access to great rates. Interest is calculated and accrued daily, but is only paid on the day the account is closed – which can be anytime after two years of opening the account.

Following the recent base rate rise, the easy access Derbyshire Offshore 10 Day Saver account is now paying up to 5.35% Gross/AER, effective 1 February 2007. Available from GBP2,500 minimum balance, the 10 Day Saver account offers a choice of annual or monthly interest payment options adding flexibility for customers.

Following a change in the local banking regulations in July 2006, Derbyshire Offshore’s range of competitive savings accounts are now available to Isle of Man residents. Potential Isle of Man clients should note that there are no counter staff to deal with enquiries on a walk-in basis. All instructions and enquiries will be handled by phone, fax or email.

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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