Bank of Scotland International has launched a new offshore savings account.
The new savings option features a tiered interest structure, up to a rate of 5.35 per cent.
Featuring a minimum deposit of £25,000, customers can place up to £1 million into the savings account.
Although a 90-day notice period applies for withdrawals, £5,000 can be withdrawn each month without the saver incurring penalties or loss of interest.
Additionally, individuals wishing to receive an income from their savings will find that interest will be paid monthly into their current accounts.
Tony Wilcox, managing director at Bank of Scotland International, says: "The Halifax International Extra Income Saver has enabled us to enhance our saving portfolio for offshore savers seeking an attractive rate and a regular monthly supplementary income."
He added that customers can also benefit from the "added security" of easy access to their savings, while retaining the ability to add to the pot.
Rachel Thrussel, head of savings at Moneyfacts, recently claimed that offshore savings accounts are growing in popularity.
New offshore savings option from Band of Scotland
New offshore savings option from Band of Scotland
Mon, 13 Nov 2006
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