Zurich Bank Breaks 6% Interest Rate Barrier

by Carla Johnson, Investors Offshore, London

15 January 2007

Zurich Bank International has launched a new 1 year fixed rate bond; following this week's surprise Bank of England interest rate hike, the bond will pay a market leading 6.05%. This limited issue product has a minimum balance of GBP10,000 and is aimed at those savers who wish to receive a guaranteed rate of interest over 12 months.

This account follows the successful launch of the Zurich Reward Account in August 2006 which is an easy access account allowing unlimited withdrawals with no interest charges. At the time the Reward Account was launched Zurich Bank International stated that “this was the first of a number of new initiatives to offer customers a new generation of uncomplicated and transparent products which match their needs.”

Graham Sheward, Managing Director of Zurich Bank International, on the launch of the new fixed rate bond product, said “This product builds on the promise to our customers to offer simple, high interest products with guarantees which match their needs. Whereas the Reward Account has an interest rate linked to the Bank of England Base Rate this product offers a guaranteed fixed rate of 6.05% over the 1 year term-again providing customers with the certainty of knowing how much interest they will receive. I am pleased that once again we have been able to launch a product with a market leading rate which I am confident will be as well received by our customers as the Reward Account has been.”

The account is available to all personal customers, third party introducers, companies, trusts, charities and clubs and offers a choice of payment options on maturity.

For more information call +44 (0) 1624 671666 or visit www.zurichbankinternational.com.

The 1 Year Fixed rate Bond is offered by Zurich Bank International Limited, a subsidiary company of the Zurich Financial Services Group. Zurich Bank International Limited is licensed by the Isle of Man Financial Supervision Commission to conduct Banking Business. Registered in the Isle of Man Number 22847. Registered Office: 43-51 Athol Street, Douglas, Isle of Man, IM99 1ET, British Isles.

Zurich Financial Services is an insurance-based financial services provider with a global network that focuses its activities on its key markets in North America and Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. Zurich has offices in more than 50 countries and employs about 62,000 people.

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