Offshore Sterling Accounts

Alliance & Leicester International boosts interest rates.

Bradford & Bingley International has unveiled a new sterling account that delivers returns according to the UK base rate. The Base Rate Link acccount offers returns of 4.875 per cent on savings between £10,000 and £25,000, and 5.25 per cent on anything above that level.

B&B International will hold the differential (5.25 was the base rate at the time of going to press), until 31 March next year.Thereafter the bank pledges that rates will not drop below 0.5 per cent of the base rate.

Offshore Sterling Accounts & Customers

The first is a sterling seven-day notice account that offers an across-the-board rate of 5.25 per cent for investments from £500 to £250,000. It can also pay interest monthly at a rate of 5.13 per cent. Previously, IPI’s sterling accounts were 30 and 90-day notice products.

Offshore Sterling Accounts & A euro Account

Northern Rock (Guernsey) has introduced three new fixed rate bonds for expatriate investors, offering fixed rates of return of 5.8 per cent over one, two or three years. Minimum balances for those wishing to invest in the bonds is £10,000, and the maturity dates are the first of June in 2002, 2003 and 2004.