Lloyds Offshore Banking

Lloyds TSB has launched a limited edition offshore deposit account which will be closed to new investment on 24 November.
The Offshore Limited Edition Deposit offers returns of up to 30 per cent paid on either sterling or dollar deposits after a fixed period of three years.
The account is equity linked and returns are determined by the performance of the FTSE 100 index for sterling accounts and the S&P 500 for dollar deposits.

Investors are guaranteed the return of their capital in full after three years, even if the relevant index has fallen over the period.
Offshore services director Peter Niven said the new account is intended to allow investors exposure to stock markets without risking capital.
Applications received with cleared funds will earn interest at 5.5 per cent for sterling and 6 per cent for dollar deposits until the starting date of either 31 October or 30 November. After the starting dates, both capital and interest will be invested.

Lloyds Offshore Banking - Minimum deposits

With the International Pension Plan and the Flexible Growth Plan, amounts invested in the first two years will be enhanced by 1 per cent of the term of the plan. The reward is subject to a maximum term of 15 years. For the Executive Savings Plan, the premiums invested in the first two years will be enhanced by 0.75 per cent of the term of the plan. Monthly premiums must be in excess of £400 or US$600 to qualify for the Flexible Growth Plan and International Pension Plan. Executive Savings Plan monthly premiums must be in excess of £500 or US$1,000.

Lloyds Offshore Banking & Wesleyan Assurance

Wesleyan Assurance Society has launched two new savings bonds which offer investors both growth and income either annually, quarterly or half-yearly.

The Select Investment Bond, which will be distributed through intermediaries, allocates investments to Wesleyan’s With-Profit, Life Managed or Deposit funds.
The Select With-Profit Bond, meanwhile, is only available direct and invests exclusively in the With-Profit fund.