C&G offers Guernsey gold

03 July 2004
C&G Channel Islands is to increase interest rates paid on its offshore investment accounts.

The rise of 0.25 per cent will come into effect from July 5th.

C&G's offshore notice account, 'Guernsey 30', will pay investors 4.35 per cent p.a. gross/AER on balances of £100,000 or more.

Investments of between £25,000 and £99,999 will receive a rate of 4.30 per cent p.a. gross/AER and balances from £5,000 to £24,999 will earn annual interest of 4.10 per cent p.a. gross/AER.

Investors have the option of having the interest paid to them monthly. In this case the corresponding rates will be 4.26 per cent, 4.21 per cent and 4.02 per cent.

Meanwhile, another offshore investment account 'Guernsey Gold' will now pay 3.65 per cent gross on £250,000 or more.

As for investments from £100,000 to £249,999, the rate will be 3.45 per cent. After that, a rate of 3.10 per cent will apply for investments of £25,000 to £99,999 and 2.95 per cent from £5,000 to £24,999.

Monthly rates can also be chosen, in which case the rates will be 3.59 per cent, 3.39 per cent, 3.05 per cent and 2.91 per cent, respectively.