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C&G halves minimum balance requirement for offshore funds

Cheltenham & Gloucester Channel Islands is to halve the minimum balance requirement from £10,000 to £5,000 on its offshore investment accounts on November 2.


It will also reduce interest rates on all products by 0.25 per cent.


Balances of £100,000 or more will now earn 7.5 per cent a year gross interest and tiers at £25,000 and £5,000 will earn 7.45 per cent and 7.25 per cent respectively.


Balances over £250,000 in instant access Guernsey Gold accounts will receive 6.65 per cent gross annual interest and rates on the lower tiers of £100,000, £25,000 and £5,000 will be set at 6.45 per cent, 6.1 per cent and 5.65 per cent respectively.

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