Alliance & Leicester's international arm has launched the Offshore 60 Plus Account, the latest addition to its comprehensive offshore account portfolio.
The Offshore 60 Plus requires 60 days' notice for withdrawals, and a minimum balance of £10,000.
The account offers a choice of monthly or annual variable interest rates, dependent on the account balance.
For balances of between £10,000 and £49,000, account holders can chose between an annual interest rate of 4.85 per cent, and a monthly rate of 4.70 per cent.
Balances between £50,000 and £99,000 have the option of a monthly 4.80 per cent or an annual 4.95 per cent.
Account holders with £100,000 or more get the choice of an annual 5.05 per cent or monthly 4.90 per cent.
All rates are variable and include a special introductory premium of 0.30% guaranteed until 1st June 2005.
"The introduction of the Offshore 60 Plus Account enhances our range of savings offers, enabling us to satisfy the requirements of all deposit-based investors," said Simon Hull, managing director of Alliance & Leicester International.
Withdrawals can be made without 60 days' notice, but account holders forfeit the interest those 60 days would have accrued.To find out more about offshore banking, click here.
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