Isle of Man-based Derbyshire Offshore says it has has responded to customer demand by lowering the minimum opening balance on its fixed-rate Manx Bond to GBP2,500.
Manx Bonds, which all now have a monthly interest option, pay up to 5.00% Gross/AER for a one-year term, with the medium term 3-year Manx Bond now paying 5.05% Gross/AER and the longer term 5-year Manx Bond now paying 5.10% Gross/AER.
Having listened to customer feedback, particularly from the younger generation of expats who are finding it hard to get the savings habit, Derbyshire Offshore have reduced their opening balance to GBP2,500. Fiona Passey, Director of Offshore Banking comments, “As specialist providers of expat savings accounts, we regularly track customer needs and respond quickly with solutions. Whilst we have long served the retired expatriate market, we are equally focused on helping younger expatriates start saving towards their financial goals. Lowering the starting balance on our most popular accounts is just one way we can do this.”
Flexibility is added to the 1 year fixed rate Manx Bond with a monthly gross interest option of 4.85% and the gross annual equivalent rate of 4.96%, 3 year fixed rate Manx Bond with a monthly gross interest option of 4.90% and the gross annual equivalent rate of 5.01% and 5 year fixed rate Manx Bond with a monthly gross interest option of 4.95% and gross annual equivalent of 5.06%.
Fiona Passey adds, “We are always looking for ways to give our customers what they want and we have responded to customer feedback to provide top rates for those looking for a guaranteed monthly income. Our flexible monthly interest option extends the scope of the account and helps customers structure their finances, while the competitive annual interest payment makes them an ideal retirement or savings booster.”
Interested investors will have to move quickly as these competitive Manx Bond rates are only available until 30 June 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; it is wholly owned by Derbyshire Building Society.
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