Skipton Guernsey Announces New Savings Rates

by Phillip Morton, Investors Offshore.com

07 January 2009

Skipton Guernsey has announced its new savings rates which took effect from January 1, 2009.

With the UK base rate at its lowest level for 57 years, according to the Bank of England, the highlight of these new savings rates is their flagship Island 90 account, a 90-day notice account, which is paying customers up to 4.50% gross/AER.

Commenting on the new interest rates, managing director Alan Bougourd said, “With UK base rate at an historically low level, the challenge for us is to ensure our savings rates stay attractive and rewarding to our investors. We have always had a reputation for clarity and simplicity with our products and our Island 90 account is a perfect example of this, a reliable account paying up to 2.5% more than the Bank of England base rate in the current climate.”

Deposits with Skipton Guernsey Ltd are now covered by the new Guernsey Depositor Compensation Scheme. The first GBP50,000 of each individual’s deposit is protected by the new scheme, whilst deposits continue to be covered in full by the undertaking given by Skipton Guernsey’s parent, Skipton Building Society, the 6th largest Society in the UK with over GBP12bn in assets.

Recommended