04/09/2023
We are able to provide clients access to Fixed Term Deposit accounts offered by Lloyds Bank International, which is based in the Isle of Man. When we are in periods of high interest rates, fixed term accounts are a legitimate investment option, particularly when offering above 5% per year interest.
The fixed term accounts are available for a minimum deposit amount of 10,000 in either USD, GBP or EUR over a 3 to 12 month period. For those who require more flexibility in terms of access to cash, there are 32 day or 95 day Notice Accounts. These require a minimum deposit of 100,000 USD, GBP or EUR, with the whole amount being accessible in either 32 or 95 days if needed.
As Lloyds Bank International is based in the Isle of Man, you benefit from a 0% capital gains tax rate on any interest from the account. Because we have an existing relationship with the bank, fixed deposits can be set up around 90% faster than trying to set up a bank account from overseas, with electronic signatures in place for the application and supporting documents.
