Scarborough Channel Islands has launched a new business bond that takes its place in the Moneyfacts best buy charts.
The International Bonus is a no notice account with a minimum investment of £10K paying 1.75% yearly, £50K – 1.90%, £100K – 2.00%. The rates are guaranteed to stay at least this level until 31.8.10, after which they will be at least 1.00% above base rate until 31.8.11 and then at least base rate until 31.8.12.
After this date, the rate reverts to a variable rate, while an additional 1.00% bonus will be paid on 31.8.10 if the account was opened with new money to the institution and no money is withdrawn. The minimum transaction is £1K.
This is a welcome addition to the offshore corporate market and one that is likely to prove popular, especially if companies can adhere to the criteria that ensures a 1.00% bonus.
Low minimum investment and transaction requirements also boost the International Bonus, which has been awarded four out of five Moneyfacts stars.
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