Santander Offshore Savings Accounts

Santander offers a range of offshore savings accounts through the banking organization, Abbey International. Abbey is a financial provider that was recently purchased by the Spanish company, Santander.


Offshore banking with Santander may enable you to make the most of your finances because less tax rules apply. For example, the interest you receive is untaxed and this will help you earn more money on your savings overall. You will however, be expected to pay income tax, but there is a period of delay that may allow you to earn considerably more than you would in an UK savings account.


Take a look at our comparison tables before committing to a specific type of offshore account. You may also wish to consider other providers who offer similar offshore account deals:

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.

You may be suited to an offshore savings account with Santander if some of the following conditions apply:


  • You live or work abroad
  • You Spend a lot of time abroad
  • You are a UK resident who has an interest in offshore banking
  • You are a foreign national living in the UK


As a provider of offshore savings accounts, Santander’s Abbey International are based in Jersey, one of the Channel Islands. An offshore savings account with Santander may be the best financial option for you if you are, or were a UK resident who is paid in a foreign currency or spent the majority of their time abroad.


There are a number of advantages in opening a Santander offshore savings account, including the following:


  • No local tax
  • You may be able to manage your own tax affairs
  • Choose between a range of offshore savings and current accounts
  • Returns are paid in gross amount and there is usually a delay in having to pay income tax
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 1.22% 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