Offshore savings Updated:
Investing your money in an easy access account is great if you need frequent and immediate access to your funds.
Savers attracted to the idea of keeping their money in an offshore savings account still have a wealth of variable no-notice offshore accounts to choose from, offering yearly and monthly interest.
Savings providers have reduced a catalogue of rates over recent weeks, with the offshore market taking a hit. For example, one month ago the average offshore easy-access rate was 0.77%; today this has fallen to 0.62%.
Despite savings rates falling, there are still some competitive deals available for savers with a variety of deposits and savings requirements.
Here are the current top 5 no-notice offshore accounts denominated in sterling:
1.55% for deposits between £5,000 and £24,999
2.10% for deposits between £25,000 and £5 million
Investments range between £5,000 and £5 million.
Introductory bonuses of 1.05% and 1.60% paid under same investment tiers for twelve months.
Monthly interest paid at 1.35% and 1.90% including same bonuses under same investment tiers.
Maximum of four penalty free withdrawals permitted per annum (from 1 April to 31 March).
Subsequent withdrawals subject to 30 days' loss of interest penalty.
Alliance & Leicester International
eSaver Access Issue 2
Investments range between £5,000 and £2million.
operated online only.
Select Access Issue 2
1.50% for deposits between £1,000 and £24,999
1.75% for deposits between £25,000 and £49,999
2.00% for deposits between £50,000 and £1 million
Lloyds TSB International
International Bonus Saver Account
Correct as at 5 December 2012
Check the latest offshore savings rates
Read the Moneyfacts.co.uk Guide to Offshore Saving.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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