Low interest rates mean for savers?
Bank of England Governor, Mervyn King, warns that the interest rates won't be going up in the near future, Barclays Wealth International is advising people that they need to be proactive in order to make their savings work harder
Following Mr King's announcement to the UK Treasury Select Committee, Mark Richards, MD, Head of Sales, Barclays Wealth International, issued this advice to savers looking for the highest returns with minimal risk: 'continued low interest rates should not deter savers - there really are some great products out there which offer good returns.'
Barclays Wealth International have just launched the Barclays Wealth New Client Term Deposit which offers a fixed rate of 3% AER/Gross* on sterling deposits for 12 months (or 2.5% AER/Gross* on euro or US dollar) on deposits between £10,000 and £250,000 (or currency equivalent). No withdrawals are permitted during the term deposit. Simply pay in one lump sum, then at the end of the term benefit from a highly competitive rate of interest.
This is a strictly limited offer and only available to new Barclays Wealth International clients who join the Relationship Manager Service or register with one of the following international banking services: iBank Plus and iBank.
'I am delighted that in recent months we have seen a growing trend towards saving and confidence locally seems to be on the up' said Mr Richards. 'The Barclays Wealth Relationship Manager Service is opening more savings accounts presently than we have done since before the economic downturn began.'
The Relationship Manager Service is a fee-free service allowing you access to a range of valuable resources via the services of a dedicated Relationship Manager.
iBank Plus and iBank offer a comprehensive range of international banking services designed to take the hassle out of your everyday banking.
Mr Richards sums up, 'it is really positive news that clients are looking to their futures and feeling able to plan and save.'
To find out more about this investment opportunity contact Barclays Wealth International on +44 (0)1624 684 301† or visit their site to find out more
ER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Gross is the rate of interest payable before tax is deducted. For example, if £100,000 in deposited in the New Client Term Deposit for the full 12 months at a rate of 3.00% AER, £3,000 in interest would be earned. Therefore the total return at the end of the 12 month term would be £103,000.
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products and services described on this page are provided by the following companies, which are part of Barclays Wealth: Barclays Bank PLC in London, Barclays Private Clients International (Gibraltar) Limited in Gibraltar and Barclays Private Clients International Limited in the Isle of Man, Jersey and Guernsey. For further Information on these companies and Barclays Wealth please read the Important Information http://www.barclayswealth.com/important-information.htm
Barclays Bank PLC is registered in England and is authorised and regulated by the Financial Services Authority. Registered No: 1026167. Registered Office: 1 Churchill Place, London E14 5HP.