• Island Bonus Saver Account

    An instant access savings account which offers an interest bonus for the first 12 months.

    Interested in this account? Request a call back to discuss your options.

    • Available in Sterling.
    • Minimum opening balance of £1
  • Our Island Bonus Saver Account is a simple, no fuss, instant access savings account. Furthermore we will pay you a fixed interest rate bonus for the first 12 months giving you even more reasons to save.

    Features and benefits:

    • Available in Sterling.
    • Minimum deposit £1.
    • Interest payable to a maximum deposit balance of £5,000,000.
    • Interest paid monthly.
    • Instant access to your savings.
  • 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.

  • Sterling Island Bonus Saver Account

     Interest rate

    Account balance Gross* interest rate (variable) AER ** Bonus***
    With bonus Without bonus With bonus Without bonus
    £1+ 0.50 0.20 0.50 0.20 0.30
    £100,000+ 0.55 0.20 0.55 0.20 0.35
    £500,000+ 0.70 0.20 0.70 0.20 0.50
    £5,000,001+ 0.00 0.00 0.00 0.00 0.00

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

    ** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

    *** BONUS – Interest will be paid on credit balances at the bonus rate and the standard variable rate for the first 12 months from opening the account. The bonus rate may vary depending on the credit balance of your account.

    If you would like a similar instant access product in US Dollar, we have the International Bonus Saver Account which may meet your needs.

  • 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
    Correspondent Bank Fee* Zone 1 (USA, Canada and Europe) £12
    Zone 2 (Rest of the world) £20
    (Note: For the purposes of the Correspondent Bank Fee, Europe is defined as all EEA countries plus Jersey, Guernsey, Isle of Man, Monaco, San Marino and Switzerland)
    Electronic Funds Transfer (CHAPS payments within the British Isles) £30
    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

    * When making an International Payment there are two charging methods:

    Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges.

    Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you hold. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank.

    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 currencies is the Island Bonus Saver Account available in?

    You can save in Sterling.

    Is there a charge notice period for withdrawing money?

    No, you can withdraw your money from an Island Bonus Saver Account at any time.

    What is the maximum deposit allowance?

    The maximum balance is £5 million and no interest will be paid on balances exceeding £5M.

    Can I open more than one Island Bonus Saver Account?

    You can open more than one single or joint Island Bonus Saver Account. However, the maximum deposit is £5,000,000 across accounts.

    Is the interest rate variable or fixed?

    The interest rate is variable and depends on the balance you hold: it is tiered. On top of the variable rate you will also receive a bonus for the first 12 months. For more information on interest rates, see Island Bonus Saver Account interest rates.

    What is a tiered interest rate?

    When the interest rate is tiered, you may earn a higher interest rate dependent on your balance.

    Please see the interest rates tab.

    What interest rate do I get once the bonus runs out?

    The bonus will expire 12 months after the account is opened. The interest rate will revert to the relevant standard variable interest rate applicable at that time. For detailed interest rates, see our Island Bonus Saver Account Interest rates.

    How long do I get the interest rate bonus for?

    The interest rate bonus applies for the first 12 months from opening the account.

    How can I access my money with an Island Bonus Saver Account?

    You can request a transfer to another bank account online, by telephone or in branch.

    How can I pay money into an Island Bonus Saver Account?

    We will provide you with a sort code and account number (IBAN and BIC for transfers from banks outside the UK) to enable you to deposit money.

    Who can I speak to if I need extra information?

    Lines are open 6am to Midnight UK time, 7 days per week.

    To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored. Call costs may vary depending on your service provider.

  • How to apply:


    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


    Call us

    • 03457 309461  Jersey
    • 03457 309373  Guernsey
    • 03457 301280  Isle of Man
    • 03457 309373  Alderney

    Lines are open 6am to Midnight UK time, 7 days per week.

    To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored. Call costs may vary depending on your service provider.