back to 4.3%.
Announcement below
Regards Sunil
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Following the Bank of England's decision on 6th November 2003 to raise Interest Rates to 3.75%, ING Direct will be raising the Interest Rate on its Savings Account to 4.30% AER* (Gross 4.22%) with effect from December 1st
2003.
"Consistently high rates are critical to our success as a business," commented Lindsay Sinclair, CEO ING Direct UK. "We launched with 4.3% (compared to Bank of England Base Rate of 3.75%) in May 2003 and are demonstrating our commitment to high rates by moving the interest rate on our Savings Account back to that level."
"Higher interest rates will re-ignite the UK population's passion for saving - we are best placed to provide savers with a high interest account coupled with "no catches" and excellent service," continued Sinclair.
ING Direct
ING Direct launched in the UK in May 2003. ING Direct has over 8 million customers worldwide. ING Direct pays the same premium interest rate to all customers irrespective of the size of deposit.
There are no tiers to the account, no minimum deposit level (accounts can be opened with 1), no withdrawal notice period, no fees and no penalties. Customers must be UK resident, 18+. We may record or monitor calls.
*AER = Annual Equivalent Rate and illustrates the interest if paid and compounded annually. Gross p.a. 4.22%. Gross p.a. = annualised rate before deduction of tax at standard rate. Variable interest rate calculated daily, paid monthly.
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