Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.
Offshore savings accounts that pay monthly interest are perfect if you use your savings to supplement your income.
Generally-speaking, offshore accounts tend to pay a higher interest rate, and therefore a higher income, the larger the amount you pay in.
All of the savings accounts in this best buy table are variable rates, with the best-paying usually requiring you to give notice if you need to make a withdrawal. But if you can do without access to your savings for a year or more, you might find that an offshore fixed rate bond will pay a higher income. Use our offshore savings search to find the best fixed rate accounts that pay interest monthly.
Moneyfacts.co.uk best buy fixed rate offshore accounts are denominated in sterling. You can find the best accounts denominated in euros or US dollars by using our offshore savings search.
Funds kept offshore don't fall under the UK Financial Services Compensation Scheme, even if your bank is a subsidiary of a UK bank or building society. Depending on where the bank is licenced you might be protected by a scheme in that jurisdiction.
Isle of Man
Find out where an offshore bank is registered, and the relevant compensation scheme in our depositor protection scheme guide.
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