New, Higher Rates Available From IOM Bank

by Carla Johnson, Investors Offshore, London

06 April 2007

Isle of Man bank Derbyshire Offshore has just introduced a new fixed rate Manx Bond. With one of the lowest opening balances available offshore at just £2,500, says Derbyshire, a Manx Bond is an excellent way for expats and UK investors alike to grow their savings.

Over the short term, the new 1 year Manx Bond annual interest option is now paying up to 5.80% gross/AER, with its flexible monthly interest option paying a monthly gross interest of 5.65%, giving an annual equivalent rate of 5.80%.

For medium term savers, the 3 year fixed rate Manx Bond is paying a competitive 5.70% gross/AER, with the 4 year Manx Bond paying 5.60% gross/AER and the longer term 5 year Manx Bond paying 5.55% gross/AER.

These competitive Manx Bond rates (Issue 52) are only available until 30 April 2007 and are limited issue products. Applications may be refused if they are fully subscribed.

Derbyshire Offshore’s range of competitive savings accounts are available to Isle of Man residents looking to increase the potential of their savings and investments.

Derbyshire Offshore is at a trading name of The Derbyshire (Isle of Man) limited a wholly owned subsidiary of Derbyshire Building Society. Derbyshire Offshore is regulated by the Financial Services Commission on the Isle of Man and is licensed for banking business. In addition to the Isle of Man Depositor Protection Scheme (prescribed in the Banking Business Compensation of Depositors Regulations 1991), Derbyshire Building Society has given an irrevocable and binding undertaking to ensure that, whilst Derbyshire Offshore remains its subsidiary, it will at all times be able to discharge its obligations as they fall due. Their products are primarily designed for non-UK residents who wish to benefit from interest on their offshore investment without deduction of tax.

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