New, Higher Rates For Guernsey Deposits

by Carla Johnson, Investors Offshore, London

21 February 2007

Skipton Guernsey Limited, the offshore subsidiary of Skipton Building Society, has just introduced a new 2-Year Bond paying up to 5.75% gross per annum.

The new Skipton 2-Year 2-step Bond guarantees a fixed rate of interest of 5.60% gross p.a. (5.59% AER) on balances from GBP25,000 to GBP99,999 and 5.75% gross p.a. (5.74% AER) on balances from GBP100,000 to GBP500,000. This limited offer is open to new and existing clients and accounts will be opened on a ‘first come first served’ basis.

Ken Jones, Manager of Investments, Skipton Guernsey comments, “As the subsidiary of Skipton Building Society we can offer our clients the solid reassurance of one of the UK’s top building societies. 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 2-Year Bond an investment opportunity not to be missed. Our new 2-Year Bond allows customers to benefit from a competitive fixed interest rate in an uncertain market, with the ability to benefit from a higher rate of interest on larger balances.”

Skipton Guernsey offers a comprehensive portfolio of savings accounts which will appeal to savers requiring instant access, notice and fixed term accounts.

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.

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