Island Investment Account.

A 60 day notices account which offers an interest rate bonus for the first 12 months.

  • £50,000 minimum deposit.
  • 60 days' notice required for withdrawals.
  • Introductory bonus of 1% payable for 12 months.
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Features & Benefits

Our Island Investment Account offers a higher rate of interest and an introductory bonus for the first 12 months so it’s ideal for larger sums all the way up to £1 million. What’s more if you need access to any or all of your balance, all you need is to give us 60 days notice.

Features & Benefits:

  • Start saving from £50,000.
  • Variable interest rate of 1% Gross plus an initial 1% bonus rate for the first 12 months.
  • Access to your funds with 60 days notice.
  • The maximum balance is £1,000,000.
  • Interest is paid every six months.

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 Investment Account Interest Rates

Current Interest Rates

Interest rates are correct as at 27 July 2009

Island Investment Account with Bonus

Interest on Credit Balances % Per Annum Gross Rate*
(paid half yearly)		 % Per Annum AER**
(paid half yearly)
£1+ 0.05 0.05
£50,000+ 2.00 2.01

Interest rates for balances of £50,000 or more includes a bonus of 1.00% p.a. AER/Gross payable for 12 months from account opening. Deposits must comprise new funds not currently held on deposit or investment with the Lloyds Banking Group.

Island Investment Account without Bonus

Interest on Credit Balances % Per Annum Gross Rate*
(paid half yearly)		 % Per Annum AER**
(paid half yearly)
£1+ 0.05 0.05
£50,000+ 1.00 1.00

*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.

Sending funds*

International moneymover service Through Currency Internet Banking £15
Through Offshore PhoneBank, in branch, or in writing £25
Through Standing Order £15
To your other accounts held with Lloyds Banking Group Free
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?

The minimum opening balance for an Island Investment Account is £50,000.

How much can I deposit in an Island Investment Account?

The maximum balance you can deposit into the Island Investment Account is £1,000,000.

What currency can I open an Island Investment Account in?

The Island Investment Account is available in Sterling only.

How much access do I have to my money?

You can withdraw money from the account by giving 60 days' notice. If you need instant access to your funds that’s not a problem, we'll simply charge the equivalent of 60 days' interest on the amount withdrawn.

When is interest paid on the Island Investment Account

Interest is paid half yearly on 9th June and 9th December.

What happens to the interest rate after my account has been opened for 12 months?

For the first 12 months from when your account is opened you will receive an interest rate bonus of 1% on top of the variable rate which is currently 1%. After 12 months your interest rate will revert to the variable rate applicable at that time.

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.

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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.

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