Offshore Interest Rates Look Good As UK Moves Towards Cut

by Carla Johnson, Investors Offshore.com

02 August 2005

The Bank of England's Monetary Policy Committee decided to keep base rate on hold at 4.75% last month, but only on the casting vote of Governor Mervyn King, and a fall is confidently expected this month. The Derbyshire (Isle of Man) says its Manx Bonds now offer a very attractive interest rate.

Just re-priced and now offering a competitive 4.60% gross/AER on a 12 month deposit, The Derbyshire (Isle of Man) Manx Bonds were a Moneyfacts best buy last month. Fiona Passey, Director of Offshore Banking, The Derbyshire (Isle of Man) comments, “We are constantly monitoring the rates available on our products and so are able to give a competitive edge to investors looking to lock in returns. Our Manx Bond product has been a consistent performer over the past few months in a fluctuating marketplace, giving savers a ‘top notch’ advantage over many instant access and 60 or 90 day rates.”

In addition, The Derbyshire (Isle of Man) has also re-priced its 5 year Manx Bond for existing customers only so that it is now paying 4.65% gross/AER. Fiona Passey adds, “Offering such a high rate on our 5 year Manx Bond to existing customers only gives us the opportunity to ‘reward’ our loyal savers. These customers are now able to lock into a truly competitive rate over the longer term, making this 5 year Manx Bond an extremely useful asset in a mixed savings portfolio.”

This is a strictly limited offer, available until 31 August 2005, with a minimum investment of just £5,000. Application forms and full details are available on www.derbyshire.co.im. All Manx Bonds offer investors the flexibility of annual interest payment, also making them an ideal retirement income booster.

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