Top Offshore Bank Savings Rates
by Iain Yule
The best buys tables show little change again this month, with interest rates generally staying low.
Best for sterling is Kleinwort Benson’s 1.76%, if you have £100,000 and can give 189 days’ notice of withdrawals. For dollars, Nationwide International pays 1.4% for $25,000 or more, with instant access. Best for Euros, paying 1.26% for €100,000 or more, is Kleinwort Benson.
The only way to beat these rates is to lock your money away for longer, as the sterling fixed rate accounts table shows. If you can leave at least £20,000 untouched for three years then 2.15% annual interest is on offer from Permanent Bank International.
Note that Santander is the new name for Alliance & Leicester International.
The rates shown (C) are gross, i.e. with no tax deducted at source, and are ranked by the amount of notice of withdrawal (A) one has to give the bank without it applying an interest penalty (or for the length of term, for fixed-rate accounts), and by the minimum amount (B) left on deposit to qualify for that level of interest. Rates collated on 3 May and are subject to change. Rates on the no-notice and notice accounts are variable; those on fixed rate accounts apply throughout the term shown.
Source: Moneyfacts.
| Bank | A | B | C |
|---|---|---|---|
| Sterling No Notice Accounts | |||
| Britannia International | None | £25,000 | 1.50% |
| Nationwide International | None | £25,000 | 1.50% |
| Santander | None | £5,000 | 1.25% |
| Skipton International | None | £100,000 | 1.25% |
| Sterling Notice Accounts | |||
| Kleinwort Benson (Channel Islands) | 189 Day | £100,000 | 1.76% |
| Britannia International | 60 Day | £25,000 | 1.75% |
| Nationwide International | 95 Day | £25,000 | 1.70% |
| Skipton International | 100 Day | £10,000 | 1.60% |
| Sterling Fixed Rate Accounts | |||
| Permanent Bank International | 3 Year | £20,000 | 2.15% |
| The Co-operative Bank | 2 Year | £5,000 | 2.09% |
| Permanent Bank International | 2 Year | £20,000 | 2.08% |
| Permanent Bank International | 5 Year | £20,000 | 1.92% |
| Euro Accounts | |||
| Kleinwort Benson (Channel Islands) | 189 Day | €100,000 | 1.26% |
| Nationwide International | None | €25,000 | 1.00% |
| Permanent Bank International | 35 Day | €25,000 | 0.90% |
| Barclays Wealth & Investment Management | None | €100,000 | 0.63% |
| US Dollar Accounts | |||
| Nationwide International | None | $25,000 | 1.40% |
| Lloyds TSB International | None | $5,000 | 0.95% |
| Barclays Wealth & Investment Management | None | $100,000 | 0.78% |
| Investec Bank (Channel Islands) | 90 Day | $50,000 | 0.75% |
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