Island Instant Access Savings

A no fuss instant access account that allows you to get access to your funds whenever you want without affecting your interest.

  • No minimum balance.
  • Save as much as you like as often as you like.
  • Instant access to your savings.
Contact Us

Features & Benefits:

If you need the flexibility to withdraw funds at any time, the Island Instant Access Account could be perfect for you. You can make withdrawals quickly and easily over the counter at your local branch or by using your Cashpoint® Card. And better still, you can access your funds whenever you want without affecting your interest.

Features & Benefits:

  • There’s no minimum balance needed to open an account.
  • Save as much as you like, as often as you like.
  • Available in Sterling.
  • Interest rate is variable.
  • Instant access to your savings and Interest is paid monthly.

Eligibility

You must be a personal customer aged 18 years and over. You must be ordinarily resident in the Channel Islands or Isle of Man

Island Instant Access Savings Interest Rates

Current Interest Rates

Interest rates are correct as at 01 April 2009

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.05 0.05
£1,000+ 0.05 0.05
£5,000+ 0.05 0.05
£10,000+ 0.05 0.05
£25,000+ 0.10 0.10

Previous Interest Rates

Interest rates from 02 February 2009

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.05 0.05
£1,000+ 0.05 0.05
£5,000+ 0.05 0.05
£10,000+ 0.10 0.10
£25,000+ 0.10 0.10

*GROSS RATE: The contractual rate of interest payable before deduction of income tax at the rate specified by law.

**AER - AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advert for a savings product will contain an AER - Annual Equivalent Rate - you can compare more easily what return you can expect from your savings over time.

Charges & fees

Sending funds*

International moneymover service Non-priority payments 25p per £100 (min charge £13, max £40) Not available for Euro payments
Priority payments Euro payments: 25p per £100 (min £16 max £40)
Other currencies: 25p per £100 (min £19 max £46)
International drafts £15 (plus registration fee if posted)
Electronic Funds Transfer (CHAPS payments within the British Isles) £20 + £5 for confirmation to recipient
Minimum payment £1,000
Cash withdrawals and deposits into the US Dollar Account and/or Euro Account 2% on the Sterling equivalent of each currency, minimum £3 per currency and £10 administration fee
These accounts are not designed to be used for receipt of notes or coins. If you need this service, please contact your International Banking Team.
Recalling a payment £20 per payment
We cannot guarantee the cancellation as funds may already have been paid to the beneficiary
You could receive less than the original amount of the payment, due to adverse exchange rate movements

* Plus charges levied by the correspondent bank abroad.

Receiving funds

Cheque Collections Cheques up to £100 £5
Cheques of £100 and above 25p per £100 (min £15, max £80 per cheque)
Cheque negotiation to Sterling account* Cheques up to £100 £5
Cheques of £100 and above 25p per £100 (min £8, max £80 per cheque)
Cheques in a foreign currency drawn in a different country (not UK) e.g. US Dollars drawn in France As above, but minimum £10 per cheque.
Cheque negotiation to currency account* Cheques in the same currency as the account £2 per cheque
Cheques requiring currency conversion £4 per cheque
Electronic bank transfer from another financial institution Up to £100 £2
£100 and above £7, or £10 for telephone advice

* The correspondent bank may also levy a charge based on the value of the cheque

Other standard services

Supplying copies of previous bank statements £5 per request
An administration charge may be made for excessive requests.

FAQs

What is the minimum opening balance?

There is no minimum opening balance for the Island Instant Access Account.

How much can I deposit in an Island Instant Access Account?

That's completely down to you. There's no limit on how much you can hold in your account.

What currency can I open an Island Instant Access Account in?

The Island Instant Access Account is available in Sterling only.

How much access do I have to my money?

You can access your money whenever you need to either in branch, over the phone using PhoneBank or Internet Banking. You also have the option of applying for a Cashpoint ® Card which allows you to to withdraw up to £200 per day from an ATM.

When is interest paid on the Island Instant Access Account

Interest is paid monthly on 9th of each month.

Who can I speak to if I need extra information?

For Jersey residents please call 01534 845155, Isle of Man residents 01624 638279, Guernsey residents 01481 706347 or Alderney residents 01481 822340.

How to apply:

Visit us in branch

Find out more

You can speed things up by downloading and completing our application form

  • Complete the form (optional, 10 minutes)
  • Bring it to a branch
  • Make sure you bring ID (driving licence, passport)

Call us

  • 01534 845 155 Jersey
  • 01481 706 347 Guernsey
  • 01624 638 279 Isle of Man
  • 01481 822 340 Alderney

CONTACT US.

Why Lloyds TSB?

Wherever you are on your journey, at Lloyds TSB we've got the know how to help with your finances:

Financial Planning

Helping you choose how to invest:

Our financial planners will work with you to understand your particular needs and help you get the best from your investments.

Learn More