UK Money News
4th April 2008
Scarborough revamps offers
Scarborough Building Society has announced it has revamped three of its financial products.
The firm's Guernsey subsidiary Scarborough Channel Islands Limited (SCIL) has confirmed that the new issue of its limited edition offshore reserve savings account will now offer savers variable interest rates of up to 6.40 per cent gross AER as well as four withdrawals per year without incurring a penalty fee.
Other products to be remodelled by the firm include its six month rollover bonds, which will now offer fixed rates of up to 6.20 per cent and partial penalty-free access prior to maturity.
Finally, the Lifestyle Fifty Plus account will now offer a deferred interest option, which allows interest to be capitalised when the account is closed, thus offering potential benefits for tax planning.
SCIL managing director Tony Burdin said: "In the current financial climate, when many savers are looking for a safe home for their cash, SCIL is offering a range of simple products that combine security, flexibility and competitive rates."
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