Offshore savings launched by Bank of Scotland International

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Offshore savings launched by Bank of Scotland International

Bank of Scotland International has introduced its new offshore savings account to the market for medium term saving plans.

The Halifax International Extra Income Saver offers customers a starting interest rate of 4.77 per cent AER with a minimum opening balance of £25,000, rising to 5.35 per cent AER once £250,000 or more is deposited into the account.

Up to £5,000 can be withdrawn by a customer in a monthly period and this will not result in a decreased rate of interest being paid nor is there a notice period.

"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," said Tony Wilcox, managing director at Bank of Scotland International.

He added: "The account not only provides the added security of having easy access to savings, but it also has the flexibility to add additional deposits to it."

Customers are able to nominate an account that their monthly interest is paid into and due to a tiered interest rate being provided, the more an individual has in their account, the more they will earn.

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