Permanent Bank International Ltd (“PBI”) is urging depositors to act quickly to take advantage of its latest Limited Edition Fixed Term Sterling Deposit Account. Issue 5 of the popular product is open until February 27, 2015, but may close earlier if over-subscribed.

It is being offered to personal, corporate, trust or pension clients with rates of 1.70% gross (1.69% AER) over 15 months, and 1.85% gross (1.84% AER) over 18 months. Interest is paid at maturity. The minimum deposit is ?20,000, and the maximum ?2million.

Simon Jones,PBI’s Head of Client Relations, said:

“Sterling interest rates are not likely to rise any time soon – and if there is a rise it is not expected to be a dramatic one. Therefore, we’re offering the Limited Edition deposit account which appeals to long-term savers able to commit to periods of 15 to 18 months while interest rates remain at current levels, with the advantage of knowing that they have a guaranteed rate. This type of product is ideal as part of longer term financial plans because depositors can renew their accounts if interest rates do rise significantly in the next year or so.”

PBI has been established in the Isle of Man since 1994, and provides a range of international deposits accounts in Sterling and Euro for UK and Isle of Man clients and ex-pats. For more information go to www.permanent-bank.com or phone 639226, or call in to PBI at Hillary House, Prospect Hill, Douglas.

PBI is licensed by the Isle of Man Financial Supervision Commission, and is also a participant in the Isle of Man Depositor’s Compensation Scheme as set out in the Depositors’ Compensation Scheme Regulations 2010. The company is part of Permanent TSB Group Holdings PLC which is 99.2% owned by the Irish Government.

Photo - Simon Jones, PBI’s Head of Client Relations.