life & banking
Abbey National Offshore has launched a one-year Sterling denominated deposit account that offers an interest rate that moves in line with the UK base rate.
The Offshore Base Rate Tracker Term account interest rate starts at 4.15% from May to August 2003 and is guaranteed to be at least 0.2% above the UK bank base rate until May 2004. It is tiered over the term of the investment.
For example, from January to April 2003 the UK bank base rate plus 0.2%, from September to December 2003 the UK bank base rate plus 0.3% and from May to August 2003 the UK bank base rate plus 0.4%.
The account is available until May 2004 when it matures and all interest is paid gross.
Minimum opening deposit is £25,000. It is available in sterling only. There are penalty free transfers from all Abbey National Offshore accounts subject to relevant notice period being given.
Capital and interest are both unconditionally guaranteed by Abbey National.
Abbey National Offshore has offices in the Isle of Man, Gibraltar, Portugal, Dubai and Hong Kong.
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