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Expat Investor : January February 2008
The Isle of Man is well known as a centre for High Street names specialising in offshore deposit accounts. And looking at this sector's record savings achievements, there are no signs of it slacking in its efforts to attract the attention of expat savers. Top interest paying accounts are available from most leading names including Alliance & Leicester International, Bank of Scotland International, Bradford & Bingley International, Britannia International, Irish Permanent International and Zurich Bank International. Zurich Bank International's product range has expanded over the last year to include a euro version of its 1 Year Fixed Rate Bond series. In addition, the Bank says it will shortly be launching a euro version of its easy access Zurich Reward Account. In launching these products Graham Sheward, Managing Director, Zurich Bank International, says, "Both these new products build on our promise to customers to offer simple, high interest products with guarantees which match their needs." Mr Sheward continues, "Whilst the Euro 1 Year Fixed Rate Bond series will provide customers with the certainty of knowing how much interest they will receive over 12 months, the Euro Zurich Reward Account will offer two interest rate guarantees, as well as easy access to funds without any interest penalties." The first guarantee on the Zurich Euro Reward Account is that the interest rate will be 0.25% above the European Central Bank (ECB) Base Rate until at least 1 January 2009. The second guarantee is that the interest rate will never be more than 0.25% below the ECB Base Rate until 1 January 2010. Both accounts are available to all personal customers, third party introducers, companies, trusts, charities and clubs. The Euro 1 Year Fixed Rate Bond offers a choice of payment options on maturity. The Bank adds that these accounts are ideal for those customers who either get paid in euros or wish to save in euros, perhaps for a house purchase in Europe or for a holiday. Bradford & Bingley International (BBI) is one of the largest offshore savings banks in ISLE OF MAN January/February 2008 EXPAT INVESTOR 13 Fast Facts 22010 What if you could guarantee your Euros worked as hard as you do? To find out more, about the Zurich Euro Reward Account call: +44(0)1624 671666 (quoting ref no. EP1) or visit www.zurichbankinternational.com 4.25% GROSS PA/AER* Variable Are you always having to move your Euros around to get the best rate? The Zurich Euro Reward Account's two guarantees mean you can take it easy while your money works hard. We guarantee your interest rate will be at least 0.25% above the European Central Bank Base Rate until 1 January 2009, then we guarantee that your interest rate will be no more than 0.25% below the European Central Bank Base Rate until 1 January 2011. We also give you security and easy access to your money. So for great returns, relax and leave the hard work to us. • A low minimum investment of 5,000 • Personal service, with no call centres www.zurichbankinternational.com Instant accress to your money *AER stands for Annual Equivalent Rate which is a notional rate which illustrates the contractual rate as if paid and compounded on an annual basis. Assumes rates will remain unchanged for 12 months. Zurich Bank International Limited, PO Box 422, Lord Street, Douglas, Isle of Man, IM99 3AF, British Isles. Telephone: +44 (0)1624 671666 Fax: +44 (0)1624 627526. www.zurichbankinternational.com Registered office: 43-51 Athol Street, Douglas, Isle of Man, IM99 1ET, British Isles. Zurich Bank International Limited is registered in the Isle of Man Number 22847. Telephone calls may be recorded. Licensed by the Isle of Man Financial Supervision Commission for banking business. R Isle of Man's financial pulling power With its vast array of money tools and its unrivalled investor protection and compensation schemes, little can dull the dazzling lights of the Isle of Man's finance sector, as this product round-up reveals. the Isle of Man. The firm serves many thousands of customers in more than 125 countries around the world and holds deposits exceeding £3 billion sterling. BBI says that its comprehensive product range is designed to meet every need of the expat saving Continued on page 14 community. However, one account attracting much attention is the eSaver -- an internet savings account. BBI says, "With that level of interest, you might be expecting significant restrictions on eligibility and a minimum initial investment in four or even five figures. Not so. eSaver is available to customers in the Isle of Man, Channel Islands, European Union and around the world, and an account may be opened with just one pound. What's more, a regular savings option will help you make sure your excess income really works for you. "Of course, online accounts are hard to beat for their convenience, and eSaver allows investors to view and manage their account from