Scarborough Channel Islands has launched a suite of savings bonds with the option for customers to fix their rate for six months, one year or two years.
Interest rates for the new products range from 6.10 per cent for a six-month fixed interest bond to 6.40 per cent for two years.
The bonds are available with a minimum opening balance of £5,000, up to a maximum of £1,000,000 and no withdrawals or deposits are permitted after opening.
SCIL general manager Mark Marsden says: “Through these outstanding products, we are seeking to pass on the benefits of the current rising interest rate environment to our customers – coupled with the certainty of knowing what their returns will be for a set period of time.
“They are also part of our ongoing intention to continually enhance and develop our products and service to ensure SCIL remains continues to offer some of the most attractive offshore deposit options around.”