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C&G cuts rates on offshore accounts

Cheltenham & Gloucester has cut the interest rates on its Channel Islands&#39 investment accounts.


The rate on its Guernsey 30 account falls to 6.5 per cent gross per year from 7 per cent for balances of £100,000 or more.


Accounts with £25,000 and £5,000 on deposit will drop to 6.45 per cent and 6.25 per cent from 6.95 per cent and 6.75 per cent respectively.


It is also cutting the interest rate of its Guernsey Gold account to 5.65 per cent from 6.15 per cent for balances over £250,000.


Rates for the lower tiers at £100,000, £25,000 and £5,000 will be cut to 5.45 per cent, 5.1 per cent and 4.65 per cent from 5.95 per cent, 5.6 per cent and 5.15 per cent respectively.


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