Fixed rate bond launched for financial institutions
Offshore bank Bradford & Bingley International has launched a limited issue fixed rate bond for investors paying up to 6.30%.
Isle of Man based Bradford & Bingley International has announced the release of its Prestige Fixed Rate Bond for investors, trustees, Independent Financial Advisors and Life Companies on the Isle of Man, UK, Ireland and Channel Islands.
The bond will give corporate clients the opportunity to offer their customers the benefits of depositing savings offshore at a rate over 1% above the current UK Base Rate with interest paid gross.
Prestige Fixed Rate Bond (Issue 18) pays 6.30% p.a. for balances of £10,000 and above with a maturity date of 8th April 2009 taking investors into a new tax year.
An additional feature of the fixed rate bond is the possibility of emergency withdrawals. Investors can withdraw some or all of the balance subject to a loss of 90 days interest on the amount withdrawn.
Bradford & Bingley International is a leading offshore savings bank which has been offering tailored savings solutions to financial institutions for over 16 years.
For further details of the Prestige Fixed Rate Bond (Issue 18) contact Bradford & Bingley International on + 44 (0) 1624 695050, or email: email@example.com.
Full information on Bradford & Bingley International and its range of offshore savings products can be found at www.bbi.co.im.
Note to editors
Interest rates are as follows.
£10,000 and above 6.30% p.a.
Information about Bradford & Bingley International can be found at the following web address - www.bbi.co.im
Bradford & Bingley International Limited is licensed by the Isle of Man Financial Supervision Commission to conduct banking business and is a wholly owned subsidiary of Bradford & Bingley plc
Bradford & Bingley plc has given a legal undertaking agreeing to discharge the liabilities of Bradford & Bingley International Limited in so far as Bradford & Bingley International Limited is unable to discharge them out of its own assets and while Bradford & Bingley International Limited remains a subsidiary of Bradford & Bingley plc. Under Isle of Man legislation, deposits made with an Isle of Man office of Bradford & Bingley International Limited are covered by the Depositors Compensation Scheme contained in the Banking Business (Compensation of Depositors) Regulations 1991 (as amended).
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