New Six Month Sterling Bond
ST PETER PORT, Guernsey, May 4, 2010 – Skipton International Limited is offering a six month bond paying 2.26%AER or 2.17% AER as a monthly income option.
The bond matures on 30 November 2010 and it is a limited edition issue which will be withdrawn when fully subscribed, so savers are advised to move quickly. The minimum deposit is GBP10,000, whilst the maximum is GBP5m. No withdrawals are allowed during the fixed rate term.
Jim Coupe, commercial director, Skipton International Limited comments, “In response to client demand, we are pleased to be offering this competitive fixed rate bond. With the backing of our parent, Skipton Building Society, the fourth largest in the UK, this account provides both safety and security, giving savers a known return over the next six months, whatever happens in the markets.”
To apply for an account or for more information, visit www.skiptoninternational.com or call +44(0)1481-727374
Editor’s notes:
1) Skipton International Limited (SIL) is a wholly owned subsidiary of Skipton Building Society (SBS), the UK’s 4th largest building society with over GBP15 billion assets.
2) SIL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended.
3) Skipton Building Society has given an undertaking agreeing to discharge the liabilities of SIL in so far as SIL is unable to discharge them out of it own assets and whilst SIL remains a subsidiary of Skipton Building Society.
4) As a Licensed Bank in Guernsey, Skipton International Limited is a participant in the Guernsey Banking Deposit Compensation Scheme (the “Scheme”) established by The Banking Deposit Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the “Ordinance”). The following is a brief summary of the Scheme, but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request.
– The Scheme only applies to ‘qualifying deposits’, which broadly means deposits made by natural persons for their own benefit; with a few limited exceptions such as, for example, deposits made by trustees of retirement annuity trust schemes, the Scheme does not apply to companies, trusts, partnerships or charities.
– The Scheme will provide compensation in the event that a Licensed Bank is unable to repay its depositors. Under normal circumstances, payment will be made within 3 months of receipt of a valid claim form.
– Compensation is limited to a maximum of GBP50,000 per individual claimant; in the case of a joint account each depositor would be entitled.
– Total Scheme compensation in any five year period is limited to GBP100 million. If claims exceed this cap, compensation would be reduced pro rata. The cap also means that compensation in respect of any one bank cannot exceed GBP100 million.
– The amount payable may be reduced if the Bank has any contractual right of set-off against the account. The Scheme is entitled to recover compensation from any funds subsequently paid out by the Bank.
– Further information and a leaflet about the Scheme is available at:
Website: www.dcs.gg
Telephone: +44(0)1481-722756
Post: P.O. Box 380, St Peter Port, GY1 3FY
5) Deposits made with SIL are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000.
6) SIL places funds with SBS and thus its financial standing is linked to SBS. Publicly available information, including reports and accounts, is available from www.skipton.co.uk.
7) Copies of the latest SIL audited accounts are available on request.
Media contacts: Please contact:
Guy Stephenson/Jennifer Duffy
Nacelle Limited
Tel: +44(0)20-8333-9125
+44(0)7980-241-558
E-mail: jenny@nacelle.co.uk
Leave a Reply