Island Premier Savings Account
Our Island Premier Savings account is an instant access savings account – which offers an interest bonus for the first 12 months.
Features and benefits
- Available in Sterling.
- Minimum deposit £5,000.
- No maximum deposit balance.
- Interest paid monthly or annually.
- Instant access to your savings.
- You must hold an Islands Premier Current account to be eligible for the Account. If your Island Premier account is closed you will no longer be eligible for the account.
Eligibility
The Island Premier Savings Account is available to residents in the Channel Islands and Isle of Man only. You must hold an Islands Premier Current account to be eligible for the Account. If your Island Premier account is closed you will no longer be eligible for the account.
Interest rates
Total variable interest rate including bonus - annual and monthly interest options.
Interest rates for balances of £5,000 or more include a bonus payable for one year from account opening.
Current interest rate
|
Account Balance |
Gross interest rate (variable) with bonus (%) |
Gross interest rate (variable) without bonus (%) |
AER with bonus (%) |
AER % without bonus (%) |
Bonus (%) |
|---|---|---|---|---|---|
Account Balance£1+ |
Gross interest rate (variable) with bonus (%)0.01 |
Gross interest rate (variable) without bonus (%)0.01 |
AER with bonus (%)0.01 |
AER % without bonus (%)0.01 |
Bonus (%)0.00 |
Account Balance£5,000+ |
Gross interest rate (variable) with bonus (%)1.70 |
Gross interest rate (variable) without bonus (%)1.25 |
AER with bonus (%)1.71 |
AER % without bonus (%)1.26 |
Bonus (%)0.45 |
Account Balance£100,000+ |
Gross interest rate (variable) with bonus (%)1.95 |
Gross interest rate (variable) without bonus (%)1.25 |
AER with bonus (%)1.96 |
AER % without bonus (%)1.26 |
Bonus (%)0.70 |
Account Balance£500,000+ |
Gross interest rate (variable) with bonus (%)2.10 |
Gross interest rate (variable) without bonus (%)1.25 |
AER with bonus (%)2.12 |
AER % without bonus (%)1.26 |
Bonus (%)0.85 |
Account Balance£1,000,000+ |
Gross interest rate (variable) with bonus (%)2.30 |
Gross interest rate (variable) without bonus (%)1.25 |
AER with bonus (%)2.32 |
AER % without bonus (%)1.26 |
Bonus (%)1.05 |
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Sending fundsWhen making an International Payment there are two charging methods:Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges. Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you hold. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank
International moneymover service:When making an International Payment there are two charging methods:Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges. Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you hold. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank
Current interest rates on the following credit balances
Service
Charges
Service
Through Currency Internet Banking
Charges
Free
Service
Through International PhoneBank, in branch, or in writing
Charges
Free
Service
Through Standing Order
Charges
Free
Service
To your other accounts held with Lloyds Banking Group
Charges
Free
Correspondent bank fee:When making an International Payment there are two charging methods:Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges. Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you hold. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank
Service
Charges
Service
Zone 1 (USA, Canada and Europe)
Charges
£12
Service
Zone 2 (Rest of the world)
Charges
£20
For the purposes of the Correspondent Bank Fee, Europe is defined as all EEA countries plus Jersey, Guernsey, Isle of Man, Monaco, San Marino and Switzerland.
Electronic Funds Transfer (CHAPS payments within the British Isles):
Service
Charges
Service
CHAPS payment
Charges
£30
Recalling a payment:
Service
Charges
Service
Recalling a payment
Charges
£20 per payment.
We cannot guarantee the cancellation as funds may already have been paid to the beneficiary. You could receive less than the original amount of the payment, due to adverse exchange rate movements.
Receiving funds
Electronic bank transfer from another financial institution:
Amount
Charges
Amount
Any amount
Charges
Free
Cheque collections:
Amount
Charges
Amount
Cheques up to £100
Charges
£5
Amount
Cheques of £100 and above
Charges
25p per £100 (minimum £15, maximum £80 per cheque)
Cheque negotiation to Sterling account:The correspondent bank may also levy a charge based on the value of the cheque.
Amount
Charges
Amount
Cheques up to £100
Charges
£5
Amount
Cheques of £100 and above
Charges
25p per £100 (minimum £15, maximum £80 per cheque)
Amount
Cheques in a foreign currency drawn in a different country (not UK)
For example : US Dollars drawn in France
Charges
As above, but minimum £10 per cheque.
Cheque negotiation to currency account:The correspondent bank may also levy a charge based on the value of the cheque.
Amount
Charges
Amount
Cheques in the same currency as the account
Charges
£2 per cheque
Amount
Cheques requiring currency conversion
Charges
£4 per cheque
Other standard services
Service
Charges
Service
Supplying copies of previous bank statements
Charges
£5 per request.
An administration charge may be made for excessive requests.
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General terms and conditions (PDF, 384KB)
Account terms and conditions (PDF, 310KB)
This product is designed for customers living in the Channel Islands or the Isle of Man.
Information on our savings accounts for customers in the United Kingdom.
Frequently asked questions
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The minimum balance is £5,000.
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There are no additional fees for this account.
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That's completely down to you. There's no limit on how much you can hold in your account.
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The Island Premier Savings Account is only available in Sterling.
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The interest rate bonus applies for the first 12 months from opening the account. After the 12 months you can request to be placed on a new 12 month bonus rate. Please contact your branch to arrange this.
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The bonus will expire 12 months after the account is opened. The interest rate will revert to the relevant standard variable interest rate applicable at that time.
For detailed interest rates, see the Current interest rate table on this page.
Alternatively you can request to be placed on a new 12 month bonus rate. Please contact your local branch.
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You can access your money whenever you need to, either in branch, over the phone using PhoneBank or Internet Banking. If you're withdrawing cash from an ATM, there is a daily limit of £500.
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Yes, you can use Mobile Banking with your Island Premier Account.
With Mobile Banking you can check your balances, pay bills, deposit cheques, transfer money and make international payments all from your smartphone.
To start using Mobile Banking, set up internet banking for your account and download our Mobile Banking app.
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You can request a transfer to another bank account online, by telephone or in branch.
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We will provide you with a sort code and account number (IBAN and BIC for transfers from banks outside the UK) to enable you to deposit money.
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If you need extra information, please call 03457 449900. Lines are open 8am - 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.Please visit our contact us page for the latest opening hours.
To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored. Call costs may vary depending on your service provider.