Money News
1st August 2008
Scarborough revamps Lifestyle savings accounts
The offshore savings division of Scarborough Building Society has announced it has revamped its Lifestyle range of savings accounts.
Among the changes to the range from Scarborough Channel Islands (SCIL) is the introduction of the new Lifestyle Reserve Account which allows four penalty-free withdrawals per year, subject to a minimum withdrawal of £1,000, and further deposits allowed throughout the life of the product.
Meanwhile, the terms of the Lifestyle Notice 28 have been sweetened, with the rate rising by 0.25 per cent to 6.50 per cent.
Both accounts require a minimum investment of £5,000 and are subject to a maximum deposit limit of £1,000,000 per customer.
SCIL managing director Tony Burdin said: "Our new range of interest payment dates, including deferred interest - a feature we have added in response to feedback - makes it even easier for our customers to plan their tax affairs.
"Our 'Lifestyle' range has proved very popular to date and with both easy access and notice options now available, we have a range of flexible and good value products to meet the needs of most people's lifestyle and financial circumstances."
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