• Island Fixed Rate Deposit

    A Fixed Rate Deposit for a set term meaning you will know exactly how much interest you will earn and for what period of time.

    • Minimum balance of £2,000
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  • Features & benefits

    No one knows what the future may hold, but with our Island Fixed Rate Deposit you just put your money away for a fixed term and you'll get a fixed rate of return paid monthly or annually. It's perfect for planning in advance, because you'll already know exactly how much you'll get back - and when you'll get it.

    • Start saving with £2,000
    • For a term of 2 years
    • Choose if you would like to have your interest paid monthly or upon maturity

    Current fixed interest rates

    Rates correct as at 1st December 2017

    Deposit Term Access Annual interest rate (AER**/Gross*) Minimum Deposit Maximum Deposit Currencies available
    2 year At the end of your deposit term 0.85% £2,000 £5 million Sterling only

    Important information

    You must, at all times for which your Island Fixed Rate Deposit Account is open, maintain a Nominated Account. The Nominated Account is a Lloyds Bank International Limited Current Account or Savings Account (as defined in the Customer Relationship Agreement) held in your own name (or, where you are a joint holder, in the name of both or any one of you), details of which will be included in the Application Form.

    The interest rates advertised here are not fixed until receipt of your deposit and any supporting documentation required to open your Fixed Term Deposit.

    You can't withdraw your money before the end of the fixed term. We will take your circumstances into account and may make an exception in a special case but there will be a charge and you may potentially lose some of your capital deposited.

    On the last day of the Term (or the next Working Day if the last day of the Term falls on a non- Working Day), we will automatically convert your Island Fixed Rate Deposit Account into an Island Standard Saver Account (the Conversion).

    It is your responsibility to contact us to give us your maturity instructions before the end of the Term. However, at least 60 days before the end of the Term, we will write to you asking for instructions about what you would like us to do with your balance after the Conversion. When we write we may also send you information about other accounts we think may be appropriate, for example, if we are offering similar accounts at the time that you may want to transfer the balance to.

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

    ** AER Rate - 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 advertisement for a savings product which quotes an interest rate will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

  • 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.

  • Current fixed interest rates

    Rates correct as at 1st December 2017

    Deposit term Access Annual interest rate (AER**/Gross*) Minimum deposit Maximum deposit Currencies available
    2 year At the end of your deposit term 0.85% £2,000 £5 million Sterling only

    Important information

    You must, at all times for which your Island Fixed Rate Deposit Account is open, maintain a Nominated Account. The Nominated Account is a Lloyds Bank International Limited Current Account or Savings Account (as defined in the Customer Relationship Agreement) held in your own name (or, where you are a joint holder, in the name of both or any one of you), details of which will be included in the Application Form.

    The interest rates advertised here are not fixed until receipt of your deposit and any supporting documentation required to open your Fixed Term Deposit.

    You can't withdraw your money before the end of the fixed term. We will take your circumstances into account and may make an exception in a special case but there will be a charge and you may potentially lose some of your capital deposited.

    On the last day of the Term (or the next Working Day if the last day of the Term falls on a non- Working Day), we will automatically convert your Island Fixed Rate Deposit Account into an Island Standard Saver Account (the Conversion).

    It is your responsibility to contact us to give us your maturity instructions before the end of the Term. However, at least 60 days before the end of the Term, we will write to you asking for instructions about what you would like us to do with your balance after the Conversion. When we write we may also send you information about other accounts we think may be appropriate, for example, if we are offering similar accounts at the time that you may want to transfer the balance to.

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

    ** AER Rate - 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 advertisement for a savings product which quotes an interest rate will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

  • Charges & fees

    There is no fee for opening and holding an Island Fixed Rate Deposit.

    You can't withdraw your money before the end of the fixed term. We will take your circumstances into account and may make an exception in a special case and there will be no charge.

  • What is the minimum opening balance?

    The minimum opening balance for the Island Fixed Rate Deposit in Sterling is £2,000.

    How much can I deposit in an Island Fixed Rate Deposit?

    The maximum balance you can deposit into an Island Fixed Rate Deposit is £5 million.

    What currency can I open an Island Fixed Deposit in?

    We offer Island Fixed Deposit in Sterling.

    How much access do I have to my money?

    Island Fixed Rate Deposits do not allow any withdrawals or closure during the term. They are specifically designed for customers who have a lump sum of cash to deposit which they know they won't need access to for the defined term.

    When is interest paid on the Island Fixed Rate Deposit?

    You can choose to have your interest paid monthly or at maturity.

    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. Lines are open 9–5 Monday – Friday. To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored.