An offshore notice account specifically for businesses was last week launched by Yorkshire Guernsey, following in the footsteps of its Global 15 account.
The Global 15 account was launched a year ago to celebrate the bank’s 15th anniversary.
‘This account received a massive inflow from individual clients. Businesses were also hungry to tap into a similar product,’ explained Peter Symes, managing director of Yorkshire Guernsey.
The Business 15 offshore deposit account offers an interest rate of 4.75%.
The Business 15 account is designed to reward organisations with a higher rate of interest for giving advance notice of withdrawals. If 15 days notice is given before a withdrawal, access to funds can be made after this period without loss of interest. Savings can also be accessed without notice, subject to the loss of 15 days’ interest on the amount withdrawn.
‘This will appeal to all kinds of businesses who have surplus funds to invest and...(are) subsequently rewarded with our significant rate,’ predicted Mr Symes.
There is a minimum investment of £100,000 and minimum transaction of £10,000. All interest is paid annually on 31st April.
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