SOURCE: Bradford and Bingley International

March 14, 2008 09:41 ET

Offshore Bank Increases Rates on Internet Savings Account

Despite Reductions in the UK Base Rate, Isle of Man Based Savings Bank Bradford & Bingley International Has Increased the Interest Rate on Its eSaver Sterling Savings Account to 6.40%

DOUGLAS, ISLE OF MAN--(Marketwire - March 14, 2008) - Offshore savings specialist Bradford & Bingley International (BBI) (LSE: BB) (PINKSHEETS: BDBYF) has increased the interest rate on two of its offshore Internet savings accounts -- the eSaver and eIncome.

eSaver is a no notice sterling savings account which is offering 6.40% and includes a 0.50% premium if no more than 3 withdrawals are made between 1st April and 31st March. eIncome is a monthly interest, no notice savings account that pays up to 6.00% p.a. (AER 6.17%).

The increases in interest come despite a 0.25% reduction by the Bank of England to the UK Base Rate on 7th February 2008.

BBI's Internet savings accounts are only available online and provide predominantly British expatriates with competitive offshore interest rates and the convenience of Internet banking.

Bradford & Bingley International's Acting Managing Director, Lynette Byrne, added, "The rate increase is great news for existing eSaver and eIncome customers. It is important to us that we continue to provide competitive and convenient savings products."

"We are delighted to provide a solution to meet the varying needs of our expatriate and international customer base and are sure that the increase in interest rate on these accounts will be well received," she added.

Visit the BBI website for more information on its range of offshore Internet savings accounts.

Alternatively contact Bradford & Bingley International direct on + 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.

Contact Information

  • Contact:
    Bradford & Bingley International
    + 44 (0) 1624 695000