• Island Investment Account

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

    • £50,000 minimum deposit
    • 60 days notice required for withdrawal
    • Introductory bonus payable for 12 months
    Contact us
  • 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 0.30% Gross which includes an initial 0.25% 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

    Island Investment Account - opened from 1st September 2016

    Account balance % Per annum gross rate* (paid half yearly) % Per annum AER** (paid half yearly) % Per annum fixed bonus (one year only)
    With bonus Without bonus With bonus Without bonus
    £1+ 0.05 0.05 0.05 0.05 0.00
    £50,000+ 0.30 0.05 0.30 0.05 0.25

    Previous interest rates

    Island Investment Account - opened from 21st May 2016

    Account balance % Per annum gross rate* (paid half yearly) % Per annum AER** (paid half yearly) % Per annum fixed bonus (one year only)
    With bonus Without bonus With bonus Without bonus
    £1+ 0.05 0.05 0.05 0.05 0.00
    £50,000+ 0.55 0.20 0.55 0.20 0.35

    Island Investment Account - opened from 20th April 2015 – 20th May 2016

    Account balance % Per annum gross rate* (paid half yearly) % Per annum AER** (paid half yearly) % Per annum fixed bonus (one year only)
    With bonus Without bonus With bonus Without bonus
    £1+ 0.05 0.05 0.05 0.05 0.00
    £50,000+ 0.70 0.50 0.70 0.50 0.20

    Interest rates for balances of £50,000 or more includes a bonus of 0.20%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 - Accounts opened from 1st April 2013 until 19th April 2015

    Account balance % Per annum gross rate* (paid half yearly) % Per annum AER** (paid half yearly)
    With bonus Without bonus With bonus Without bonus
    £1+ 0.05 0.05 0.05 0.05
    £50,000+ 1.00 0.50 1.00 0.50

    Interest rates for balances of £50,000 or more includes a bonus of 0.50%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 - accounts opened from 4th February 2013 until 31st March 2013

    Account balance % Per annum gross rate* (paid half yearly) % Per annum AER** (paid half yearly)
    With bonus Without bonus With bonus Without bonus
    £1+ 0.05 0.05 0.05 0.05
    £50,000+ 1.30 0.50 1.31 0.50

    Interest rates for balances of £50,000 or more includes a bonus of 0.80%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 - accounts opened from 27th July 2009 until 4th February 2013

    Account balance % Per annum gross rate* (paid half yearly) % Per annum AER** (paid half yearly)
    With bonus Without bonus With bonus Without bonus
    £1+ 0.05 0.05 0.05 0.05
    £50,000+ 2.00 1.00 2.02 1.00

    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.

    *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.

  • Charges & fees

    Sending funds*

    International moneymover service* Through Currency Internet Banking Free
    Through International PhoneBank, in branch, or in writing Free
    Through Standing Order Free
    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) £30
    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

    * Recipient and Corresponding Banks abroad may charge a fee for receiving payments.

    Receiving funds

    Electronic bank transfer from another financial institution Any amount Free
    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

    * 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.
  • 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 we’ll 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 interest rate do I get once the bonus runs out?

    The bonus paid on balances of £50,000 or more will expire 12 months after the account is opened. The interest rate will revert to the relevant standard variable rate applicable at that time. For detailed interest rates, see our Island Investment Account Interest rates.

    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 24 hours a day, 365 days a year. To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored.

  • How to apply:

    pin

    Visit us in branch

    Visit us in branch to open an account.

    If you are a new customer, make sure you bring ID such as your original passport or driving licence, as well as proof of your address.

    Find a branch

    telephone

    Call us

    • 01534 845155  Jersey
    • 01481 706347  Guernsey
    • 01624 638279  Isle of Man
    • 01481 822340  Alderney

    Lines are open 24 hours a day, 365 days a year.

    To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored.