New Fixed Rate Bond Paying 3.50% Gross p.a. /3.49% AER Launched
By Skipton International Limited, PRNESunday, February 14, 2010
ST PETER PORT, Guernsey, February 15, 2010 - Skipton International Limited - website
www.skiptoninternational.com - the specialist Guernsey based savings
and mortgages organisation, has launched a new fixed rate sterling account
paying 3.50% gross per annum.
With a minimum deposit of just GBP10,000 and all balances earning the
same high rate of return, the new Skipton International 2 Year Bond will
appeal to a broad range of savers. As a result, the maximum balance allowed
per customer has been set at GBP1,000,000, but larger sums may be accepted,
subject to negotiation. This is a strictly limited offer account and once
opened, additional funds cannot be added or withdrawn during the two year
term. Full details of the account are available on the Skipton International
website at www.skiptoninternational.com/savings/productDetails/
2yearInternationalBond.aspx
(Due to the length of this URL, it may be necessary to copy and paste
this hyperlink into your Internet browser's URL address field. Remove the
space if one exists.)
Interest will be paid annually on 31 March 2011 and again a year later
upon maturity of the account. Interest can be capitalised or paid away to an
account of the customer's choice.
Commenting on the new Bond, Commercial Director Jim Coupe said, "The new
Skipton International 2 Year Bond offers a combination of an attractive
interest rate which is fixed, so savers will know exactly how much they will
receive on the two interest payment dates. We have designed the account to
run over two years, as we believe this will offer a good balance between long
term stability and ease of access to funds in the future."
At the end of the two year term the account reverts to a variable rate no
notice structure. Skipton International Ltd offers a range of sterling, euro
and US dollar accounts and is part of Skipton Building Society, the fourth
largest in the UK with over GBP15 billion of assets.
Editor's notes: 1) Skipton International Limited (SIL) is a wholly owned subsidiary of Skipton Building Society (SBS), the UK's 4th largest building society with over GBP15 billion assets. 2) SIL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended. 3) 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. 4) 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 GBP50,000 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 GBP100 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 GBP100 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: www.dcs.gg Telephone: +44(0)1481-722756 Post: P.O. Box 380, St Peter Port, GY1 3FY 5) Deposits made with SIL are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000. 6) 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. 7) Copies of the latest SIL audited accounts are available on request. For more information on Skipton International savings products, visit 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
For more information on Skipton International savings products, 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 at nacelle.co.uk
Tags: February 15, Guernsey, Skipton International Limited, St peter port