Offshore bank reissues online fixed rate bond

Offshore savings specialists Bradford & Bingley International have released their second online savings bond with a fixed rate of 6.40% interest over 12 months.

Douglas, Isle of Man (eNewsWire) 21 January 2008 – Following the success of their first fixed rate online savings bond, Isle of Man based savings bank Bradford & Bingley International have released a second high-interest Internet sterling bond.

The eBond Issue 2 offers a competitive 6.40% rate of interest, paid on maturity on January 30th 2009. The fixed rate online savings account will keep the same rate of interest for a calendar year despite any fluctuation in the UK base rate.

Fixed rate bonds have seen a surge in popularity following the recent drop in the Bank of England’s base rate to 5.50% and expectations that a further two cuts are likely in 2008.

The second edition of the sterling bond follows the bank’s oversubscribed eBond Issue 1 which attracted more than 5 times the amount of deposits than was anticipated.

“eBond Issue 1 far exceeded our expectations and showed us that there was a clear customer need for a fixed rate account with Internet availability,” said Acting Managing Director Lynette Byrne.

“eBond Issue 2 has been launched straight off the back of our first account to ensure we continue to meet this need and to offer customers that may have missed out on the first bond an opportunity to take advantage of the great rates currently on offer,” she added.

Savings specialists Bradford & Bingley International offer a range of online sterling savings accounts to international and expatriate customers in over 125 countries around the world.

Visit the Bradford & Bingley International website at www.bbi.co.im to find out more about the eBond Issue 2 fixed rate online savings bond and to sign up online.

Alternatively contact Bradford & Bingley International directly on + 44 (0) 1624 695000.

Contact:
Bradford & Bingley International
30 Ridgeway Street
Douglas, Isle of Man, IM1 1TA
enquiries@bbi.co.im
+ 44 (0) 1624 695000

Note to editors:

Information about Bradford & Bingley International can be found at the following web address – www.bbi.co.im

Bradford & Bingley International Limited is licensed by the Isle of Man Financial Supervision Commission to conduct banking business and is a wholly owned subsidiary of Bradford & Bingley plc

Bradford & Bingley plc has given a legal undertaking agreeing to discharge the liabilities of Bradford & Bingley International Limited in so far as Bradford & Bingley International Limited is unable to discharge them out of its own assets and while Bradford & Bingley International Limited remains a subsidiary of Bradford & Bingley plc. Under Isle of Man legislation, deposits made with an Isle of Man office of Bradford & Bingley International Limited are covered by the Depositors Compensation Scheme contained in the Banking Business (Compensation of Depositors) Regulations 1991 (as amended).