Britannia International Capital Bond offers a ray of hope for savers!
Isle of Man News, 16 February 2010 – With many city analysts warning savers that returns could remain low for the rest of the year the outlook for those looking to maximise their savings still remains challenging. According to research from Moneyfacts.co.uk, the last few months have seen borrowers benefit from falling mortgage rates whilst savings rates have been gradually declining too. Up to November last year, competition amongst banks for savers’ money boosted the rates on offer, up to as much as ten times the base rate in some instances, but since then however, rates have dropped back to levels seen last summer. Offshore Best Buy tables compiled by Moneyfacts make for some pretty harsh reading. Currently the best rate on offer for a no notice account is 2.82% whilst notice and fixed term bonds might offer a higher rate, the best providers are paying between 3.00% and 4.50% gross respectively.
With this in mind, Britannia International has launched a new Capital Bond that offers the potential to outperform current savings rates. The capital bond is linked to the FTSE® 100 index and offers savers returns of 27%/4.90% AER and 35%/5.13% AER over 5 and 6 year options if the FTSE®100 stays the same or goes up over the term of the bond.
Mark Beresford, Britannia International Managing Director, commented, “It has been widely commented that low interest rates are here to stay throughout 2010 and into 2011.By offering capital bonds it gives savers the opportunity to make potentially greater returns than those currently available from normal variable and fixed rate deposit accounts and there is the added comfort that there is no risk to the initial capital deposited or any hidden fees.”
The 5 and 6 Year Capital Bonds are available with a minimum deposit of only £5,000 up to a maximum of £1 million and are available until the 5 March on a limited issue basis.
To open a Britannia International Capital Bond you can call into one of our three branches located on Athol Street, Douglas, Parliament Street, Ramsey or Orchard Road, Port Erin. Alternatively call 681100 or visit www.britanniainternational.com for further details.
A.E.R. stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and added each year, rounded to two decimal places.
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