Nationwide International says, in uncertain times, it is experiencing record inflows from Isle of Man, Jersey and Guernsey savers.
Managing Director, Carl Gandy,says "they are seeking to maximise their returns in an uncertain economic environment, with accounts offering rate guarantees becoming increasingly popular.
Last month, we recorded the biggest inflow of funds in our 18 years in the offshore savings market, and believe this is due in no small part to the shift in investors’ priorities”.
To meet the demand from savers, Nationwide International has introduced a Sterling Base Rate Tracker Premium Account which currently pays 6.5%* gross for deposits over £25,000, a premium of 0.75%* above base rate.
The account comes with a guarantee that, for the first 12 months, the interest rate on the account will be no lower than the Bank of England base rate. Thereafter, the interest rate is guaranteed to pay no less than 0.25%* gross p.a. below the Bank of England base rate until 1st January 2010.
Commenting on the new account, Marketing Director, Philip Dunne, said,
"Our customers are increasingly saying they are looking for accounts which guarantee that, whatever happens, their account will offer security over the longer term ".
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