Offshore savings Date:
Skipton International Ltd has reduced the rates of two of its fixed offshore bonds, but despite this, neither have lost their places on the Moneyfacts charts.
The three-year Fixed Rate Bond now pays a fixed rate of 2.00% yearly (1.98% monthly) until 31.8.18, keeping its title of market-leader of its sector. Meanwhile, 18 Month International Bond pays a new rate of 1.75% yearly (1.74% monthly), which enables it to retain its place on the charts.
Both accounts can be opened in branch or by post, and then operated in the same way as well as by phone. An initial investment of at least £10,000 is required.
Like many fixed rate deals, neither further additions nor early access to funds is permitted, so savers have to be happy with their investment and the length of their chosen term from the beginning.
Both of these offshore bonds offer competitive rates, with the three-year account boasting a particularly attractive return. However, while the monthly interest options add a degree of flexibility, the lack of early access means that savers have to be comfortable locking their money away.
Moneyfacts rating: Excellent
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