Clydesdale Bank International has launched a new notice account for expat and offshore savers.
The new account, 95 Day Notice Account, allows interest to interest to be paid either annually or the capitalisation of interest can be deferred until a future date determined by the accountholder. This new interest option has been designed for those customers for whom deferral may be appropriate for their tax-planning requirements.
The account pays an interest rate of 1.40% AER, with the interest calculated daily and can be capitalised annually or deferred. The minimum opening deposit is GBP10,000, while withdrawals.closure can only be made on giving 95 day notice (except in the event of death of the accountholder).
James Blower, managing director of Clydesdale Bank International, says: “This new product continues our support for the expat and offshore savers market. The interest deferral option should be a welcome addition for those savers who wish to manage their tax liabilities.”
