A new three-year fixed rate bond from the Nationwide at a 2.3% interest rate is the only change in the top 20 offshore fixed rate savings table from last week.
Nationwide does demand a £5,000 minimum deposit to get the deal – which is low in comparison to those required by many other banks and building societies looking for expat savings.
Fixed offshore savings rates have slowly ratcheted up over recent weeks, but are not expected to change much until later in the year when banks and building societies have a better idea of when the Bank of England might start to raise the official interest rate.
Governor Mark Carney has indicated when the change comes; the rate is more likely to float up slowly than sky rocket.
Easy access accounts
With that in mind Permanent Bank’s 15, 18 and 24 month fixes all at around 2% might be worth a punt.
In comparison, no notice offshore banking accounts offer a top rate of 1.25% from Nationwide for £25,000 on deposit.
Other rates include 1% from Skipton International on a £10,000 deposit and 0.8% from Lloyds on a hefty £100,000.
Barclays and Santander also want a £100,000 minimum deposit for their miserly 0.6% instant access rates.
| Offshore Fixed Term Savings Accounts - by interest rate | |||
|---|---|---|---|
| Provider | AER | Term | Deposit |
| Conister Bank | 0.03 | 5 Year Bond | 5000 |
| Skipton International | 0.0275 | 5 year Bond | 10000 |
| Conister Bank | 0.025 | 3 Year Bond | 5000 |
| Nationwide | 0.023 | 3 Year Bond | 5000 |
| Skipton International | 0.0225 | 3 Year Bond | 10000 |
| Permanent Bank | 0.0211 | 5 Year Bond | 20000 |
| Permanent Bank | 0.0206 | 3 Year Bond | 20000 |
| Santander | 0.0205 | 3 Year Bond | 500 |
| Permanent Bank | 0.0203 | 2 Year Bond | 20000 |
| Permanent Bank | 0.0199 | 18 Month Bond | 20000 |
| Permanent Bank | 0.0184 | 15 Month Bond | 20000 |
| Conister Bank | 0.0175 | 1 Year Bond | 5000 |
| Leeds Building Society | 0.015 | 1 Year Bond | 1000 |
| Newcastle Building Society | 0.015 | January 22, 2016 | 500 |
| Permanent Bank | 0.015 | 1 Year Bond | 20000 |
| Santander | 0.015 | 2 Year Bond | 500 |
| Nationwide | 0.0145 | 1 Year Bond | 5000 |
| Newcastle Building Society | 0.014 | January 22, 2015 | 500 |
| Nationwide | 0.0136 | 6 mMonth Bond | 5000 |
| Investec Bank Offshore | 0.013 | 1 Year Bond | 50000 |
| Offshore Fixed Term Savings Accounts - by deposit amount | |||
| Provider | AER | Term | Deposit |
| Santander | 0.0205 | 3 Year Bond | 500 |
| Newcastle Building Society | 0.015 | January 22, 2016 | 500 |
| Santander | 0.015 | 2 Year Bond | 500 |
| Newcastle Building Society | 0.014 | January 22, 2015 | 500 |
| Leeds Building Society | 0.015 | 1 Year Bond | 1000 |
| Conister Bank | 0.03 | 5 Year Bond | 5000 |
| Conister Bank | 0.025 | 3 Year Bond | 5000 |
| Nationwide | 0.023 | 3 Year Bond | 5000 |
| Conister Bank | 0.0175 | 1 Year Bond | 5000 |
| Nationwide | 0.0145 | 1 Year Bond | 5000 |
| Nationwide | 0.0136 | 6 Month Bond | 5000 |
| Skipton International | 0.0275 | 5 year Bond | 10000 |
| Skipton International | 0.0225 | 3 Year Bond | 10000 |
| Permanent Bank | 0.0211 | 5 Year Bond | 20000 |
| Permanent Bank | 0.0206 | 3 Year Bond | 20000 |
| Permanent Bank | 0.0203 | 2 Year Bond | 20000 |
| Permanent Bank | 0.0199 | 18 Month Bond | 20000 |
| Permanent Bank | 0.0184 | 15 Month Bond | 20000 |
| Permanent Bank | 0.015 | 1 Year Bond | 20000 |
| Investec Bank Offshore | 0.013 | 1 Year Bond | 50000 |
| This list covers most major providers but is not exhaustive. Account rates and minimum deposits are likely to change or be withdrawn at short notice | |||
