5 June 2008
Ashley Whittaker, Head of Retail Savings at Kaupthing Edge, comments:
"We currently have no plans to reduce the rates for Kaupthing Edge saving products. The rate on our instant access account will remain at a highly competitive 6.5% AER and we are also committed to a rate guarantee of at least 0.3% above base rate until 2012.
In response to customer feedback, we have recently changed the minimum investment on the account from £1000 to £100, allowing more people to benefit from our competitive rate. We have also reduced the minimum investment and increased the rates on our fixed term accounts (see full product details below), meaning that more Kaupthing Edge customers are able to get the best returns on their savings."
Key product details:
| Instant Access Savings Account | Fixed Term Deposit Accounts |
|---|
| 6.5% AER (6.31% gross) |
6 month term account: 6.97% AER (6.85% gross) |
| Rate guaranteed to be at least 0.3% above base rate until 1st February 2012 |
12 month term account: 7.01% AER (7.01% gross) |
| Min balance upon which interest is paid: £100 |
36 month term account: 6.70% AER (7.16% gross) |
| Max balance: £2 million (across all accounts) |
24-hour online access |
| No tie ins or charges |
Min balance upon which interest is paid: £1,000 |
| 24-hour online access |