Compare offshore accounts

Lloyds TSB International Incentive Saver

This account pays 2.42% annual interest, but only if you keep a balance of £10,000 or more and you make no withdrawals during the year.

The maximum amount you can pay into this account is £2 million and the account is available in sterling only.

You can pay into your account at any time and can access your savings via 24/7 Internet Banking and via the phone.

One of the drawbacks of the account is that in any month you make one or more withdrawals, then you will earn a lower rate of 0.25% for that month. Making a withdrawal will also affect the overall rate you earn over a year, with the amount of interest falling every time you take out money. For example, if you make one withdrawal, the rate drops to 2.24% a year, and if you make five withdrawals, you will earn just 1.51%. If you make twelve withdrawals, then the rate plummets to 0.25%.

On the plus side, interest is paid monthly, which will suit savers looking to supplement their income.

Deposits held with Lloyds TSB Offshore are covered by the Jersey Depositor’s Compensation scheme, which protects the first £50,000 of deposits held.

You must be aged at least 18 to apply for this account.

Lloyds TSB International Bonus Saver Account

This instant access savings account pays tiered rates of interest up to 2.01% depending on how much you have to invest.

You must be over the age of 18 to open this offshore account, and the minimum amount you can invest is either £5,000. It is not available to Channel Island or Isle of Man residents.

Offshore accounts suit those with international needs, so this account is likely to appeal to those who have moved or are planning on moving abroad, and want easy access to their savings.

The top rates of interest are only available to savers with large sums to invest. For example, the maximum you can earn is 2.01% if you have £100,000 to invest, but balances between £5,000 and £49,999 earn 1.51% and balances between £50,000 and £99,999 earn 1.76%.

This rate includes a 0.50% bonus for the first year, so you may want to move your money once the rate falls. Interest is, however, paid monthly which is useful for savers looking to supplement their income.

The account allows free internal transfers, and is also available in Euros and US dollars. You can only open one single or joint International Bonus Saver Account for each currency.

Lloyds TSB International 5 Year Fixed Term Deposit

This account pays 4.50% annual interest fixed for five years to offshore savers with at least £10,000 to invest. The maximum amount you can invest in the account is £5 million.

You cannot access your money at all during the fixed rate term, so you will need to be certain you can afford to leave your money tied up for five years. Remember too that while this rate may seem attractive now, if interest rates go up, you may be left stuck in an account that no longer looks so appealing.

This account is available in sterling only, but you can open a Fixed Term Deposit account in a different currency upon request.

Deposits held with Lloyds TSB Offshore are covered by the Jersey Depositor’s Compensation scheme, which protects the first £50,000 of deposits held.

You must be aged at least 18 to apply for this account.

Lloyds TSB International 3 Year Fixed Term Deposit

This account pays 4.00% annual interest fixed for five years to offshore savers with at least £10,000 to invest. The maximum amount you can invest in the account is £5 million.

You cannot access your money at all during the fixed rate term, so you will need to be certain you can afford to leave your money tied up for three years. Remember too that while this rate may seem attractive now, when interest rates go up, you may be left stuck in an account that no longer looks so appealing.

This account is available in sterling only, but you can open a Fixed Term Deposit account in a different currency upon request.

Deposits held with Lloyds TSB Offshore are covered by the Jersey Depositor’s Compensation scheme, which protects the first £50,000 of deposits held.

You must be aged at least 18 to apply for this account.

Lloyds TSB International 2 Year Fixed Term Deposit

This account pays 3.55% annual interest fixed for two years to offshore savers with at least £10,000 to invest. The maximum amount you can invest in the account is £5 million.

You cannot access your money at all during the fixed rate term, so you will need to be certain you can afford to leave your money tied up for two years. Remember too that while this rate may seem attractive now, when interest rates go up, you may be left stuck in an account that no longer looks so appealing a few months down the line.

This account is available in sterling only, but you can open a Fixed Term Deposit account in a different currency upon request.

Deposits held with Lloyds TSB Offshore are covered by the Jersey Depositor’s Compensation scheme, which protects the first £50,000 of deposits held.

You must be aged at least 18 to apply for this account.

Lloyds TSB International 1 Year Fixed Term Deposit

This account pays 3.40% annual interest fixed for one year to offshore savers with at least £10,000 to invest. The maximum amount you can invest in the account is £5 million.

You cannot access your money at all during the fixed rate term, so you will need to be certain you can afford to leave your money tied up for 12 months.

This account is available in sterling only, but you can open a Fixed Term Deposit account in a different currency upon request.

Deposits held with Lloyds TSB Offshore are covered by the Jersey Depositor’s Compensation scheme, which protects the first £50,000 of deposits held.

You must be aged at least 18 to apply for this account.