New bond from SCIL

A new one-year guaranteed bond has been launched by Scarborough Channel Islands Limited (SCIL).

Establishing itself in the offshore savings market, the company has introduced the bond with a 6.5 per cent fixed rate of interest on balances up between £100,000 and £1 million.

Savers depositing a sum of money between £25,000 and £99,999.99 will benefit from an interest rate of 6.4 per cent, while those with balances of £5,000 up to £24,999.99 will receive interest at 6.3 per cent.

SCIL managing director Tony Burdin said: “We believe in listening to our customers and have created this product in response to feedback which suggested they value the security of guaranteed returns.”

Abbey also launched a one-year fixed-rate bond recently, offering savers 7.01 per cent interest on amounts between £30,000 and £2 million.

And director of savings and investments at Abbey Reza Attar-Zadeh remarked that the current environment for savers is “exceptional”.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *