Island Business Reserve Account
A savings account that pays interest on your money each month. This could enable you to make the most of your surplus funds. Designed for businesses in the Channel Islands and the Isle of Man.
Features and benefits
- Open an account with as little as £1.
- Interest is paid on your savings each month.
- Available in Sterling.
- Move funds between accounts.
- Access your money at any time.
Eligibility
To apply for an Island Business Reserve Account, you need to:
- Be registered in Jersey, Guernsey or the Isle of Man
- Use the account for business only
- Be a sole trader, partner or director.
Interest rates
Current interest rates: Interest rates are applicable as at 30 October 2020.
|
Interest on credit balances (paid monthly) |
% per annum gross rateGross rate: The contractual rate of interest payable before deduction of income tax at the rate specified by law in Jersey, Guernsey or the Isle of Man where your account is held. |
% per annum AERAER: Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. |
|---|---|---|
Interest on credit balances (paid monthly)£1+ |
% per annum gross rateGross rate: The contractual rate of interest payable before deduction of income tax at the rate specified by law in Jersey, Guernsey or the Isle of Man where your account is held.0.01 |
% per annum AERAER: Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year.0.01 |
Terms and conditions
Read our full terms and conditions (PDF, 186KB)
Frequently asked questions
-
Complete our contact form to apply or make an appointment
-
You can open an account with just £1.
-
There is no maximum. You can deposit as much as you like.
-
You have instant access and in addition, you can make as many withdrawals as you like.
-
Interest is paid monthly, either on the 10th day of each calendar month or the next bank working day.
-
These services are designed for businesses operating in the Channel Islands or the Isle of Man.
Information on services for customers in the United Kingdom through Lloyds Bank plc.