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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.


Norwich Union to buy London & Edinburgh for £315m

Norwich Union is to buy London & Edinburgh for £315m in a bid to become the UK&#39s biggest general insurer in the intermediary market.The takeover will create the third biggest general insurer in the IFA market. But Norwich Union aims to become the top player within five years.The London & Edinburgh name is expected to […]

NOP finds nearly half will rely on state pension

A staggering 46 per cent of people plan to rely on the state pension in retirement despite Government attempts to encourage people to plan for old age.A survey by NOP for Standard Life asked 635 people nationwide if they had a pension and why they do not save more for retirement.It reveals 46 per cent […]


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