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Offshore Savings Accounts in the Isle of Man

There a variety of different types of offshore savings accounts currently on the market, so it is important that you find one to meet your individual needs. One such example is an offshore savings account with monthly interest payments.  


Using this type of offshore savings account, customers will receive interest payments from their bank very regularly, potentially allowing them to see the best possible return on their savings.


If you are considering opening an offshore savings account with monthly interest payments, comparing deals on offshore savings accounts could be the key to finding one that could offer you the most benefits. See our offshore savings account comparison tables below for details of some of the offers that are currently available:

ProviderAccountGross Rate AERTermCurrencyMore Info
   More Info >

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

** AER RATE – AER stands for Annual Equivalent Rate and is the notional rate which illustrates the gross rate as if it was paid and compounded once each year. As every advertisement for a savings product will contain an AER you can compare more easily what return you can expect from your savings over time.

Many savers opt to invest their money in offshore savings accounts to potentially maximise the return on their savings.  Opening an offshore savings account with monthly interest could be particularly beneficial to people in the following categories:


  • Expatriates or people who receive their wages in a foreign currency
  • UK residents who are looking to make an investment abroad
  • Those that would like to supplement their income with the monthly interest payments received on their savings.


For many people, a good offshore savings account deal could offer the following benefits:

  • The opportunity to store money in foreign currencies
  • The potential to earn more interest on their savings, as it is based on ‘gross’ and not ‘net’ balances
  • Income tax payments are usually delayed, giving you the opportunity to save more
  • Some offshore savings accounts allow you to defer interest payments, meaning that you could opt to receive them at timesconvenient to you.


However, there could also be potential drawbacks:

  • Offshore bank accounts tend to require large deposits and could be subject to expensive charges, such as for withdrawals
  • Your investment would not be protected by the UK Financial Services Scheme; it is therefore advisable that you check as to whether the country in which the account is located will offer something similar.
Instant Access Savings Accounts Deals
ProviderAccountInterest Rate (AER)TermApply
1.30%Instant AccessMore Info >
MARKET LEADING. Earn 1.30% gross/AER. Instant Access. No notice periods. Unlimited payments and withdrawals. Pay in from £100. RCI Bank are protected up to a total of €100,000 by the FGDR, the French deposit protection scheme. Manage account online.


Instant AccessMore Info >
Earn 1.29% AER variable interest. Interest can be paid monthly or annually. Open an account singly or jointly. Minimum deposit £1. Unlimited deposits and withdrawals permitted. FSCS Protected
1.15%Easy AccessMore Info >
1.15% gross/AER. Instant Access. Free withdrawals and no notice period. Deposit from £100. Includes a fixed bonus of 0.95% gross fixed for the first 12 months. Quick and easy online application

Gross is the interest you will receive before tax is deducted.

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

Latest Fixed Rate Bond Deals
ProviderAccountInterest Rate (AER)TermApply


per annum

£5,000Apply Now >
Earn 2.20% fixed interest - 3 year term - Minimum deposit £5,000 - No withdrawals permitted. FSCS Protected


per annum

£5,000Apply Now >
Earn 2.02% fixed interest - 2 year term - Minimum deposit £5,000 - No withdrawals permitted. FSCS Protected


per annum

£1,000Apply Now >
Earn 2.40% gross/AER fixed for 4 years. Save £1,000 - £250,000. No withdrawals during the term. Individual or joint accounts available. Annual or monthly interest. FSCS Protected
Growth Structured Deposits
ProviderPlan NameMaximum Potential Return*TermMore Info
FTSE 100 Kick Out Deposit Plan


per annum

Up to
6 years
More Info >
Capital protected deposit plan with the potential to mature after years 3, 4, 5 and 6. If the plan matures early it will return 6% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer.
* Maximum Growth Yields are not guaranteed and subject to certain conditions