Offshore savings Updated:
Anglo Irish Bank Corp. has increased the rate of interest on two of its offshore accounts, as well as introducing a new product to the market. Consumers with three month privilege fixed interest accounts will benefit from a market leading rate of 4.50% (up 0.25%), while comparable twelve month accounts now offer rates of 5.00% (up 0.40%). The bank has also announced a six month fixed term account, which requires a minimum payment of £5K, paying 4.75% on maturity. Consumers can access 20% of capital without penalty and additions are at managers' discretion. All three bonds lead the way in their respective markets and the increases in rates, as well as a six month option, represents good news for investors looking to move their funds offshore. A degree of access and a low minimum payment will also curry favour. The products have been awarded four out of five Moneyfacts stars.
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