• 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.
    • 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

    Interest rate

    Account balance Gross* interest rate (variable), paid half yearly AER** Bonus***
    With bonus Without bonus With bonus Without bonus
    £1+ 0.05 0.05 0.05 0.05 0.00
    £50,000+ 0.65 0.20 0.65 0.20 0.45

    For previous interest rate please contact your local branch.

    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.

    *** 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.

  • 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)
    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

    * 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 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?

    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:

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    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 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.