Island Trust Account
An instant access deposit account suitable for trust companies. This could enable you to make the most of your surplus funds. Designed for businesses in Jersey, Guernsey and the Isle of Man.
Features and benefits
- Open an account with as little as £1.
- Interest is paid on your savings each month.
- Move funds between accounts.
- Access your money at any time.
- Available in Sterling.
- Maximum balance of £5 million.
- Set up direct debits and standing orders.
- Overdrafts are not allowed on this account. This applies to authorised and unauthorised overdrafts.
Eligibility
To apply for an Island Trust Account, you need to:
- Be registered in Jersey, Guernsey or the Isle of Man
- Use the account for business only
- Be a trust company
Interest rates
Current interest rates: Interest rates are applicable as at 30 October 2020.
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Interest on credit balances (paid monthly) |
Gross interest 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. (% per annum) |
|---|---|---|
Interest on credit balances (paid monthly)£1-£5,000,000 |
Gross interest 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)0.01% |
AERAER: Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. (% per annum)0.01% |
Terms and conditions
Terms and conditions PDF (186KB) for Lloyds Bank Corporate Markets plc
Frequently asked questions
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Complete our contact form to apply or make an appointment
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The minimum balance is £1.
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The maximum balance for the Island Trust Account is £5,000,000.
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You have instant access and in addition, you can make as many withdrawals as you like.
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Interest is paid monthly, either on the 9th day of each calendar month or the next bank working day.
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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.