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International class business bond from Scarborough

International class business bond from Scarborough

Category: Business

Updated: 03/08/2009
First Published: 03/08/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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1.00% bonus will be paid on 31.8.10 if the account was opened with new money to the institution and no money is withdrawn.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.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.