New, Higher Interest Rates On Offer In Guernsey

by Carla Johnson, Investors Offshore.com

12 June 2007

A new Skipton Guernsey Limited 1-Year Fixed Rate Bond (Issue 15) is paying 6.10% gross pa/AER on balances from GBP25,000 to GBP500,000.

Ken Jones, Manager of Investments, SGL, comments, “With the UK interest rates looking to be near or at their peak, our new 1-Year Bond paying 6.10% gross pa/AER offers a valuable short term boost to savings. Our commitment to customer service and our proven ability to react quickly to rate changes by securing attractive fixed rates for our customers makes this new 1-Year Bond an investment opportunity not to be missed.”

This limited offer is open to new and existing clients and accounts will be available on a ‘first come first served’ basis.

(SGL has also responded to the recent rise in the Bank of England base rate with a 0.25% increase across the range of its simplified range of variable rate investment products, effective from 1 June 2007.

Now customers can benefit from rates of up to 5.75% gross pa/AER on its Sterling Access Plus account, up to 5.25% gross pa/AER on its Sterling Access account, up to 5.50% gross pa/AER on its Sterling Thirty account and up to 5.75% gross pa/AER on its Sterling Sixty account.

Ken Jones comments, “We are able to react quickly to market conditions and base rate changes and have passed on the full benefit of the last two Bank of England base rate changes to our customers. This consistency and transparency of approach is reflected in our simplified range of investment products, which offer excellent value for money.”

Skipton Guernsey Limited (SGL) is a wholly owned subsidiary of Skipton Building Society. Deposits made with SGL are not covered by the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Skipton Building Society, established since 1853, has given an undertaking agreeing to discharge the liabilities of SGL in so far as SGL is unable to discharge them out of its own assets and whilst SGL remains a subsidiary of Skipton Building Society. SGL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended and conducts business only in Guernsey; it is not authorised to accept deposits elsewhere. Copies of the latest audited accounts are available on request. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Recommended