Offshore Savings Bonds

Compare Offshore Savings bonds

Offshore savings bonds may enable you to make the most out of your savings. It should be remembered that in most cases, you will not permitted to withdraw any funds from your offshore savings bonds for the duration of the set term. Your savings will be locked away, and only when the set term ends will you be able to access your savings and the interest that has been accumulated. When searching for a suitable offer from a provider, it is always recommended to research the market as much as possible. You may also wish to use our table below for comparisons on the various offshore savings account deals that exist:

Offshore Instant Access Accounts
ProviderAccountGross Rate AERTermCurrencyMore Info
Up to 0.90%Instant AccessSterling (£)More Info >
  • Minimum deposit - £5,000
  • Worldwide Instant Access 24/7
  • Interest Paid Monthly
  • Includes 0.30% AER/Gross Bonus for first 12 months
  • After 12 months the interest rate will automatically reduce
Up to 0.80%Instant AccessDollar ($)More Info >
  • Minimum deposit - $5,000
  • Worldwide Instant Access 24/7
  • Interest Paid Monthly
  • Includes 0.30% AER/Gross Bonus for first 12 months
  • After 12 months the interest rate will automatically reduce
Up to 0.50%Instant AccessEuro (€)More Info >
  • Minimum deposit - €5,000
  • Worldwide Instant Access 24/7
  • Interest Paid Monthly
  • Includes 0.40% AER/Gross Bonus for first 12 months
  • After 12 months the interest rate will automatically reduce

It is important that you choose the right offshore savings bond account, as well as thoroughly considering the pros and cons of opening this type of account. You may also wish to seek financial advice before committing to an offer from any one provider. You should also consider other types of offshore savings accounts available.


Type of Offshore Savings Account

Offshore Savings Account Features

Offshore Savings Account Access

Instant Access Offshore Savings Account

Will normally offer higher interest than what can be obtained on an offshore current account.

Instant access or easy access

Fixed Rate Notice Offshore Savings Account

With these types of savings account you have to give notice before you can take money out e.g. 7, 30, 60 and 90 days.

An interest penalty will often be applied if notice is not given.

Offshore Fixed Rate Bonds

Usually 1, 2, 3, 4 or 5 year saving terms with a minimum deposit. Interest is normally paid on maturity of the savings bond.

Offshore fixed rate savings bonds are designed for money to be held for full term. Early withdrawal may result in a penalty.

Offshore Structured Deposit Plans

Usually 3, 4 or 5 year saving terms with a minimum deposit. Performance will usually be linked to a world stock market with at least your original capital paid back at maturity subject to the deposit taker remaining solvent.

Early withdrawal may result in a penalty. Designed for money to be held for full term

 

Things to look out for when choosing an Offshore Savings Bond


There is a wide range of business savings account deals to choose from so we have highlighted some of the features to look out for:

  • Offshore Savings Bonds Minimum deposits – offshore savings bonds require a minimum level of funding.
  • Offshore Savings Bonds Account Access – Depending on the offshore savings bond access will be typically through the internet, telephone or post. 
  • Offshore Savings Bonds Interest Calculation – some savings bond providers will pay interest monthly and others quarterly or annually or only when the account is closed. The latter option could be useful from a tax planning view.
  • Offshore Savings Bonds Account Protection – Offshore savings bonds do not currently come under the UK FSCS protection scheme. Your savings bond may be protected under the depositor protection scheme where the offshore bond is held e.g. for offshore bonds held in Guernsey depositors are offered protection for qualifying deposits up to £50,000 subject to certain limitations. You should check with the offshore savings bond provider for further details.

With interest rates at the time of writing at an all-time low the impact in real terms of inflation on your money is not to be underestimated in eroding the buying power of your hard earned cash. Use our offshore bond comparison tables to ensure you get a good savings rate.

Some advantages and disadvantages are detailed below:
 

Offshore Savings Bond Advantages

 

  • There may be a range of fixed rate terms to choose from when deciding which type of bond you want to open.
  • Gross interest is added to your savings, rather than net interest, allowing you to accumulate further interest to maximize your savings before you pay income tax.
  • As well as Sterling you can also deposit in Euros and Dollars.

 

Offshore Savings Bond Disadvantages

 

  • Interest rates may not be higher than those in the UK
  • The deposit protection scheme may differ in foreign countries
  • You may be taxed twice by HMRC, depending on the location of your account

 


To find the best offshore savings bonds for you, use our simple comparison service and apply today.
Compare Offshore Fixed Rate Bonds
ProviderAccountGross Rate AERTermCurrencyMore Info
1.10%1 YearSterling (£)More Info >
  • Minimum deposit - £10,000
  • Sterling Deposits Only
  • 5 Year Term Bond Available
  • Bond designed to be held for full term
  • Charge for early withdrawal
0.75%1 YearDollar ($)More Info >
  • Minimum deposit - £10,000
  • Dollar, Sterling and Euro Deposits Available
  • Bond designed to be held for full term
  • Charge for early withdrawal
0.30%1 YearEuro (€)More Info >
  • Minimum deposit - €10,000
  • Euro, Sterling and Dollar Deposits Available
  • Bond designed to be held for full term
  • Charge for early withdrawal