Bradford & Bingley International has reduced its sterling rates following the Bank of England Base Rate cut of 0.5%.
The eAccess2 account offers savers with balances over £1,000, 4% annual gross, 3.8% monthly gross, 3.87% gross p.a./AER or 4% gross on closure.
When B&B International's rates were last reviewed on 15 November the same account paid 5% annual gross, 4.8% monthly gross, 4.91% gross p.a./AER or 5% gross deferred.
Other sterling rates were reduced by approximately 1.5% from 15 November levels.
Furthermore, following the decrease of 0.5% by the European Central Bank on 15 January and 0.75% by the US Federal Reserve on 16 December, B&B International's euro and dollar account interest rates have also been cut.
Annual Gross for US Dollar Accounts is 0.15% for investors with between $10,000 and $49,000, 0.2% for balances of $50,000 to $99,000, 0.25% for investors with $100,000 to $199,000 and 0.35% for those with over $200,000.
The revised rates are between 0.5% and 0.75% lower than those in November.
Interest on Euro Accounts has fallen by approximately 1.35% from 15 November levels. An investor with between €10,000 and €49,000 now receives 1.75%, while 1.8% annual gross p.a. is paid to those with €50,000 to €99,000. The rate is 1.85% for balances of €100,000 to €199,000 and 1.9% for balances over €200,000.
Full details of the rate change are available at: http://www.bbi.co.im/offshore-savings-resources/offshore-savings-interest-rates/interest-rates/
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress