Skipton International has relaunched its popular 1 and 2 Year International Reserve Bonds with an enhanced interest rate structure, particularly the monthly interest options. These are sure to appeal to those who are looking for ways to improve monthly incomes and retirement income.
Offering guaranteed interest rates over periods of one and two years, the bonds offer an innovative way for savers to lock into competitive monthly income rates of up to 3.60% AER or 3.54% gross monthly. According to independent industry comparison website Moneyfacts.co.uk, this interest rate would make the Skipton International accounts a clear best buy.
Both bonds have a minimum deposit of just £10,000 and are offered on a strictly first come first served basis. Bonds will be withdrawn as soon as it they have reached their funding limit.
Annually, the 2 year International Reserve Bond will pay 3.60% gross AER, the 1 year Bond 3.30% gross AER. Monthly interest rates are 3.54% gross/3.60% AER on the 2 year product and 3.25% gross, 3.30% gross AER on the one year account.
Annual interest will be paid on 31 May, with monthly interest paid out on the last working day of each month. Interest can be capitalised or paid away to an account of the customer’s choice, but additional funds cannot be added or withdrawn one a bond has been opened. Upon maturity, customers have 14 days to make further deposits, withdraw funds or close the account before it will rollover into a new bond. Full details of the accounts are available on the Skipton International website savings page.
Commenting on this new opportunity to lock into a better monthly income, Managing Director Jim Coupe said, “UK Base Rate remains at its historic low, so we have acted again to improve interest rates for the many who rely upon their savings to provide a boost in income in retirement or just a welcome top up to their normal salary. Our 1 and 2 year bonds offer both guaranteed rates and the option of a monthly income facility at an enhanced interest rate which we are sure will be popular with those feeling the pinch at the moment.”
Skipton International Ltd is part of Skipton Building Society, the fourth largest in the UK with nearly £14 billion of assets.
For more information on Skipton International savings products, visit www.skiptoninternational.com or call +44 (0) 1481 727374
Category: Finance & Business