Following the latest cut in the UK sterling Base Rate in April to 5%, Abbey International, the specialist offshore Banking subsidiary of Abbey in the UK has reduced the interest rates payable on its range of sterling denominated savings accounts.

Announcing the changes, Jane Matthews, Head of Marketing & Business Development at Abbey International said, “Savers rely upon organisations such as ourselves to deliver a combination of security and value. As a result, for the majority of our customers, all they will see is a change to their savings rates which reflects the changes in Bank Base Rate. Savers in our Base Rate Tracker Term product, for example, can still earn 5.20% gross AER. Fixed rate savers can earn 6% with a £50,000 deposit and of course once opened, this rate will not fall during the life of the account, even if UK Base Rates fall further.

Abbey International operates a range of US dollar, euro and sterling denominated accounts, offering savers both instant access and higher interest rate Notice Accounts. The Abbey International Gold account offers the option of a Gold Visa card which can be used to withdraw cash worldwide in over 800,000 cash dispensers across 120 countries.

For further information on offshore Banking call + 44 (0)1534 885000 or log onto www.abbeyinternational.com