Zurich Bank Raises Interest Rates

by Carla Johnson, Investors Offshore, London

14 November 2006

Isle of Man-based Zurich Bank International has announced an immediate increase in the interest rate on its market leading Zurich Reward Account to 5.25%.

The interest rate increase follows the decision by the Bank of England Monetary Policy Committee to increase the Bank Base Rate to 5.00% on Thursday 9 November 2006.

Graham Sheward, Managing Director of Zurich Bank International said “We are extremely pleased to honour our promise to pay 0.25% above the Bank of England Base Rate on this account until at least 30 June 2007. Also, we are very pleased that we have increased the rate overnight following the Bank of England’s decision, thereby passing the benefit on to our customers immediately, unlike some of our competitors who may take up to a month to increase their rates.”

The Zurich Reward Account is an instant access account with unlimited penalty free withdrawals. The account also guarantees to pay interest 0.25% over the Bank of England Base Rate until at least the 30 June 2007. A further guarantee ensures the rate will be within 0.25% of the Bank of England Base Rate until 1 January 2010.

Zurich Bank International is at www.zurichbankinternational.com.

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