Landsbanki Guernsey increases interest rates by 0.25% or more
Friday, 13 Jul 2007 16:41
Landsbanki Guernsey, the offshore subsidiary of Landsbanki Islands, has said it will increase interest rates on its variable rate savings accounts by at least 0.25%.
The move follows the Bank of England's 0.25% increase in base rates last week.
"Increasing interest rates regularly and promptly passing on increases in the Bank of England Base Rate on our variable rate accounts, shows that we are committed to our customers and are responsive to their needs," said Mark Sismey-Durrant, Landsbanki Guernsey director.
"We aim to constantly review our products to ensure we are consistently competitive."
The new rates come into effect today, customers can deposit anywhere from £10,000 to £2 million in the accounts.
The interest rate on Landsbanki Guernsey's International Access account will increase by 0.30% to 6.01% AER, while its International 60 pays 6.11% AER and the International Tracker 90 has an interest rate of 6.21% AER.
The interest rate on the one-year Fixed Rate Bond has also been increased to 6.21% (AER), while interest rates of up to 6.41% (AER) are available for longer terms.
Savers can opt for either annual or monthly payment of interest on all variable rate accounts except the International 90, where interest is paid annually. On Fixed Rate Bonds, interest can be paid annually or at maturity.
The accounts are available for deposit amounts from £10,000 to £2 million and those wishing to invest can either contact the Bank for an application pack or download one from the website.