New 120 Day Notice Account Offers up to 2.50%Gross/AER with Monthly Interest Option to Personal and Business Investors

ST PETER PORT, Guernsey, July 7, 2011 -

• 120 day notice account with annual and monthly
  interest options
• Minimum balance £10,000, earn up to 2.50%
  gross/AER, 2.27% monthly AER on deposits of £100,000
  plus

Skipton
International, the Guernsey based savings and local mortgage
specialist has launched a new 120 day notice account targeting both
offshore individual  savers and business deposit accounts with
interest rates of up to 2.50% gross/AER. The href="www.skiptoninternational.com/savings/productDetails/internationalPremium120.aspx">
International Premium 120 account offers two interest rate
tiers, with balances from £10,000 to £99,999 earning 2.25%
gross/AER and accounts with over £100,000 on deposit achieving the
top interest rate of 2.50% gross/AER. Annual interest on both
business and personal deposits is paid on 15 June.

Monthly income options are also available paying 2.00% gross
monthly on balances up to £99,000 2.25% gross monthly on balances
over £100,000. Monthly interest is paid on the 15th of each
month.

Withdrawals for sums of £1000 or more are only permitted after
120 days’ notice has been given. The minimum deposit is £10,000 and
the maximum investment allowed is £5 million.

Commenting on the latest addition to the Skipton International
product range, managing director Jim Coupe said, “As well as our
easy access accounts, we now offer savers  a range of notice
account options including 40, 90 and 120 days. With its annual and
monthly interest options, this account will appeal to savers who
are prepared to commit their capital for slightly longer in
exchange for higher return.”

Skipton International Ltd is part of Skipton Building Society,
the fourth largest in the UK with over £14 billion assets.

Editor‘s notes:

1. AER stands for Annual Equivalent Rate and illustrates what the
   rate would be if interest was paid and added each year.
2. Skipton International Limited (SIL) is a wholly owned
   subsidiary of Skipton Building Society (SBS), the UK’s
   4^thlargest building society with nearly £14 billion
   assets.
3. SIL is licensed under the Banking Supervision (Bailiwick of
   Guernsey) Law 1994, as amended. 
4. Skipton Building Society has given an undertaking agreeing to
   discharge the liabilities of SIL in so far as SIL is unable to
   discharge them out of its own assets and whilst SIL remains a
   subsidiary of Skipton Building Society.
5. As a Licensed Bank in Guernsey, Skipton International Limited
   is a participant in the Guernsey Banking Deposit Compensation
   Scheme (the “Scheme”) established by The Banking Deposit
   Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the
   “Ordinance”). The following is a brief summary of the Scheme, but
   is not intended as a substitute for the actual wording of the
   Ordinance, a copy of which is available on request.

          - The Scheme
only applies to ‘qualifying deposits’, which broadly means deposits
made by natural persons for
           
their own benefit; with a few limited exceptions such as, for
example, deposits made by trustees of 
            retirement
annuity trust schemes, the Scheme does not apply to companies,
trusts, partnerships or charities.

          - The Scheme
will provide compensation in the event that a Licensed Bank is
unable to repay its depositors.
           
Under normal circumstances, payment will be made within 3 months of
receipt of a valid claim form.

          -
Compensation is limited to a maximum of £50,000 per individual
claimant; in the case of a joint account
          
 each depositor would be entitled.

          -
Total Scheme compensation in any five year period is limited to
£100 million. If claims exceed this cap,
           
compensation would be reduced pro rata. The cap also means that
compensation in respect of any one bank
           
cannot exceed £100 million.

          - The
amount payable may be reduced if the Bank has any contractual right
of set-off against the account. The
           
Scheme is entitled to recover compensation from any funds
subsequently paid out by the Bank.

          - Further
information and a leaflet about the Scheme is available at:

                           
Website: href="www.dcs.gg">www.dcs.gg

                           
Telephone: +44(0)1481-722756

                           
Post: P.O. Box 380, St Peter Port, GY1 3FY 

  6. Deposits made with SIL are not covered by the
Financial Services Compensation Scheme established under the
UK
     Financial Services and Markets Act
2000.

  7. SIL places funds with SBS and thus its financial
standing is linked to SBS. Publicly available information,
     including reports and accounts, is
available from www.skipton.co.uk.

  8. Copies of the latest SIL audited accounts are
available on request.

For more information on Skipton International savings products,
visit href="www.skiptoninternational.com">www.skiptoninternational.com
or call +44(0)1481-727374

Media contacts: Please contact: Guy Stephenson/Jennifer
Duffy, Nacelle Limited, Tel:
 +44(0)20-8333-9125, +44(0)7980-241-558, E-mail:
jenny@nacelle.co.uk  
 

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