The limited edition account will pay the 4% rate regardless of whether it is required on an annual or monthly basis.
Available to investors with a minimum deposit of £10,000, the 3 Year International Reserve Bond is being offered on a “strictly first come first served basis” and will close when it has reached its funding limit.
The monthly income rate is 3.93% gross or 4% AER which is paid on the last banking day of each month.
Annual interest will be paid on 30 June, with the first payment being made on 30 June 2013 and again each year until maturity of the account in 2015. Interest can be capitalised or paid away to an account of the customer’s choice, but additional funds cannot be added or withdrawn during the three year term. At the end of its three year life, customers will be provided options to withdraw or transfer funds to another account, allow the deposit to roll into a new three year bond or make additional deposits.
Skipton managing director Jim Coupe said: “We have moved to offer both monthly income customers and those seeking to protect and grow capital in a low risk environment a very attractive rate of return of 4% gross AER.
“This high interest rate is guaranteed every year for the three year life of the International Reserve Bond.”
