Sun Bank Offshore has designed its roll up bond for investors who have between £5,000 and £250,000 to invest.
The roll up bond offers a choice of a three year term or a five year term and interest rates depend on the amount invested. If an investor chooses a three year term, they will get 6.09-6.48 per cent gross a year. If they go for a five year term, they get 6.45-6.89 per cent gross a year. No withdrawals are permitted during the term.
The roll up bond offers capital gains tax deferral for higher rate taxpayers in the UK especially those who are heading for retirement or who are taking time out from work to study. It might also appeal to UK expatriates.
According to Moneyfacts on March 15, 2001, Sunbank Offshore's interest rates are higher than other offshore savings accounts that have tiered interest rates. Northern Offshore Banking's fixed rate offshore bond is available to investors with £5,000-£250,000 to invest. It offers 5.00-5.65 per cent gross a year over three years and 5.80-6.40 per cent over five years.