• Island Standard Saver

    An instant access variable rate savings account that has converted from an Island Fixed Rate Deposit Account at the end of the fixed term.

    • No minimum balance.
    • Instant access to your savings.
  • Features and benefits

    • There’s no minimum balance needed to open an account.
    • Available in Sterling.
    • Interest rate is variable.
    • Instant access to your savings and Interest is paid monthly.
  • 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 Standard Saver Account interest rate

    Interest rate

    Interest on Credit Balances (paid annually) Gross* interest rate (variable) AER**
    £1+ 0.20 0.20

    For previous interest rate please contact your local branch.

    * 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
    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
    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?

    There is no minimum opening balance. The balance of your Island Fixed Rate Deposit Account (the Conversion Amount) will be automatically transferred to your Island Standard Saver Account upon conversion, in accordance with the Island Fixed Rate Deposit Account Conditions.

    How much can I deposit in an Island Standard Saver Account?

    Once the Conversion Amount has been transferred, no further deposits may be made to your Island Standard Saver Account.

    How much access do I have to my money?

    You can access your money whenever you need to either in branch, over the phone using PhoneBank or Internet Banking.

    When is interest paid on the Island Fixed Rate Deposit?

    Interest is paid annually on the anniversary of opening your account.

    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:

    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 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.