Change to savings account interest rates

Bradford & Bingley International (BBI) have announced their latest offshore savings account interest rate changes.

Following a reduction by the Bank of England on 5th February to 1.00% BBI have reviewed their savings range and adjusted the interest rates accordingly. The new interest rates on BBI's online savings account, eAccess2, became effective from 4th March 2009 and the remainder of their variable rate savings account rate changes became effective on 28th February 2009.

Although Bank of England Base Rate decreased to 1.00% on 5th February 2009, BBI savers are still able to earn an interest rate of 3.00%, 2% above Bank of England Base Rate, for balances as low as £1,000 with the eAccess2 internet savings account. For customers looking for a longer term savings account, the bank's range of Fixed Rate and Tracker Bonds offer rates of up to 4.00%.

BBI's Managing Director John Pearson commented: "We are pleased that despite the recent base rate reductions, we are still able to offer attractive interest rates of up to 4.00% through our Bond program at the same time as maintaining a very attractive range of savings accounts for our customers."

BBI is now part of Abbey and the Santander Group. Savers can be confident in Santander's AA rating from Standard & Poor's and that deposits with BBI are covered by the full guarantee of Abbey.