Offshore UK Bank Raises Interest Rates

by Carla Johnson, Investors Offshore.com

26 May 2006

In a climate of rising interest rates, offshore Bank of Scotland International has increased the rates available on its International Fixed Rate Account, which now pays up to 5.05% gross/AER, effective from 19 May 2006.

Michael Chaytor, Head of Retail, Bank of Scotland International comments, “We raised the rates available on our International Fixed Rate Account twice during April, which enabled us to offer our clients 4 Moneyfacts ‘best buys’. This month we have taken advantage of changes in market sentiment allowing us to lock into higher rates before the Base Rate actually increases - the general consensus being that the UK Base Rate will be raised later on this year. By anticipating movements in the market we are hopeful that our International Fixed Rate Account will still boast 4 Moneyfacts ‘best buys’. This third rise again demonstrates our aim to be as proactive as possible on behalf of our clients, keeping ahead of the market to provide attractive rates and real value for money.”

Bank of Scotland International offers a comprehensive range of banking and savings solutions worldwide from its offices in Jersey and Isle of Man, providing financial support to expatriates, international clients and the UK, Isle of Man and Channel Island communities. The International Fixed Rate Account offers terms of investment from six months through to five years, making it an ideal solution within a mixed financial portfolio covering short to long-term investments.

Bank of Scotland International (BOSI) also offers a specialist offshore mortgage service and an independent financial planning service.

BOSI is part of the HBOS group, which has a Standard & Poor’s long-term AA credit rating and Moody’s Aa2 long-term credit rating.

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