04 September 2008
Ashley Whittaker, Head of Savings at Kaupthing Edge, comments:
"Kaupthing Edge remains committed to offering savers a rate guarantee of at least 0.3% above base rate until 2012. In line with today’s decision to keep rates at 5% we will be maintaining our market leading rate of 6.55% AER* on our instant access account."
"As always, we promise our customers competitive returns on their deposits and we believe that our current suite of savings products offers savers a real opportunity to maximise returns on their money."
Notes to Editors:
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Key product details:
- Instant Access Savings Account
- 6.55% AER (6.36% gross)
- Rate guaranteed to be at least 0.3% above base rate until 1st February 2012
- Min balance upon which interest is paid: £100
- Max balance: £2 million (across all accounts)
- No tie ins or charges
- 24-hour online access
- Fixed Term Deposit Accounts
- 6 month term account: 6.97% AER (6.85% gross)
- 12 month term account: 7.15% AER (7.15% gross)
- 36 month term account: 7.15% AER (7.67% gross)
- 24-hour online access
- Min balance upon which interest is paid: £1,000
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- Kaupthing Edge is the online retail financial services offering of Kaupthing Bank and its UK subsidiary, Kaupthing Singer and Friedlander
- Kaupthing Edge's internet access savings account and fixed term deposit accounts are available at www.kaupthing-edge.co.uk. See account details below.
- Kaupthing Edge deposits are currently held by Kaupthing Singer and Friedlander Ltd and are protected under the UK Financial Services Compensation Scheme. Under the UK Financial Services Compensation Scheme, financial protection is limited to 100% of the first £35k of all deposits with KSF Ltd.
- Kaupthing Edge is a global brand operating in the UK, Isle of Man, Germany, Norway, Sweden, Finland, Denmark, Switzerland, Belgium and Luxembourg.
- Kaupthing Bank is Iceland's largest bank and offers comprehensive commercial and investment banking services to individuals, companies and institutional investors. Kaupthing Bank operates in thirteen countries with its headquarters located in Reykjavík, Iceland.
- Kaupthing Singer and Friedlander Ltd offers integrated financial services, including Corporate Banking, Investment Banking, Asset Management, Treasury, Asset Finance and comprehensive wealth management for Private Banking clients.
Registered Office:
One Hannover Street, London, W1S 1AX. Registered Number 875947. Registered in England. Authorised and regulated by the Financial Services Authority (FSA Registration Number 140839)
For further information, please contact:
Kaupthing Edge Savings Product: please contact Lansons Communications
Anna Schirmer: 0207 294 3605 or 07765567842
Jennifer Comerford 0207 294 3678 or 07977473045
For Kaupthing Bank – corporate: please contact Brunswick Communications
Anita Scott / Nigel Prideaux 00 44 207 404 5959