3 May 2008
- Instant access online account offers market leading 6.86% AER
- Fixed term deposit account with up to 7.00% AER
- Simple, accessible online processes tailored to offshore customers
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) Limited, today announces the launch of its market leading savings account based on the Isle of Man.
Kaupthing Edge will be 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, receive a market leading rate of interest on their offshore savings.
The account offers savers the best rate guarantee currently on the market of at least 0.3% above base rate until 1st February 2012 (respective currency specific index rates apply).
Savers will be able to open the account online with a minimum investment of GBP1,000 (USD 2,000, EUR 1,500), offering instant access to their money with no tie-ins. Once customers have opened a Kaupthing Edge offshore savings account they have the option to maximise their returns by locking all or part of their savings in a fixed term deposit account.
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."