International savers will now be able to receive monthly interest on their savings through a new one year fixed rate bond being introduced by Bradford & Bingley International [ http://www.bbi.co.im ]. The offshore bank’s new savings account, the Fixed Rate Income Bond (Issue 1), pays 5.95% interest and matures on 30 June 2008.
For retired customers, fixed rate monthly interest is the ideal way to supplement pension income and make budgeting easy. There is also the comfort that the rate offered is guaranteed throughout the life of the bond regardless of fluctuations in the Bank of England Base Rate.
The monthly income bond has been launched with an additional feature offering the convenience of an emergency withdrawal provision. Customers needing access to their funds before the maturity date can do so subject to a 90-day interest penalty on the amount withdrawn. Traditionally funds committed to fixed rate bonds are locked in until maturity. This feature will give customers the flexibility to react to any unforeseen changes in their circumstances during the life of the investment.
More information on the Fixed Rate Income Bond Issue 1, including Terms and Conditions and an application pack, can be found on the Bradford & Bingley International website or alternatively by calling Bradford & Bingley International direct on + 44 (0) 1624 695000.
Note to editors:
Information about Bradford & Bingley International can be found at the following web address - www.bbi.co.im
Bradford & Bingley International [ http://www.bbi.co.im ] 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).
