Offshore savings Date:
Permanent Bank International has launched two new offshore bonds, one of which has stolen a coveted place in the Moneyfacts charts for its attractive rate and terms.
The 18-month Limited Edition Fixed Term Sterling Deposit (Issue 6) pays 1.70% (1.69% APR) on maturity, allowing it to sit comfortably among the top 10 of its sector. Meanwhile, the 15-month variant pays 1.60% on maturity.
These accounts can be opened and operated in branch, by phone and online with an initial deposit of at least £20,000.
As with many fixed rate products, neither account allows further additions or early access to funds. Offshore savers must therefore be comfortable with the size of their investment and the length of their chosen term.
The 18-month version of this account offers savers a promising return on their investment, which will ensure its popularity. While there is no flexibility in terms of being able to add to funds or make withdrawals, savers looking for a competitive offshore investment are likely to find this offer an attractive one.
Moneyfacts rating: Excellent
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