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backKaupthing Edge guarantees savings rate until 2012
KAUPTHING Edge, the online retail financial services offering of Iceland’s largest bank, Kaupthing hf and its subsidiary, Kaupthing Singer and Friedlander (Isle of Man), has launched a market-leading savings account based on the Isle of Man.
Kaupthing Edge is available as a sterling, euro or US dollar account, and can be held in sole or joint names.
The account has been designed to enable customers to set up and manage their account online and in return says the Bank, receive a “market-leading rate of interest” on their offshore savings.
The key features of this account include 6.86% AER sterling rate, 4.65% AER US dollar rate, and 5.12% AER euro rate. The minimum balance to open an instant access account is £1,000, or US$2,000, or Ä1,500.
Accounts can be opened in joint names (up to two account holders) and the interest rates are guaranteed to be a minimum of 0.3% above sterling base rate until 1st February 2012. Customers have 24 hour online access.
Fixed term deposit accounts may also be held in joint names and at present the terms for fixing are 6 months, 1, 2 and 3 years.
Aidan Doherty, Managing Director of Kaupthing Edge Isle of Man, comments, “Kaupthing Edge is a great account for offshore savers; it not only offers a market leading return on your money but also 24/7 online access. We offer offshore savers the opportunity to apply for and manage their Kaupthing Edge account at any time and any place.
“Kaupthing Edge has a fantastic track record of offering market leading instant access savings accounts within Europe and here in the Isle of Man we have a strong legacy and reputation for providing long term attractive rates on savings and investments.
“The Edge offshore account draws on the expertise of our existing operation on the Isle of Man, complementing our existing portfolio of market leading products which give customers a great return on their savings.”
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