What are the advantages of international savings accounts

International savings accounts - also known as offshore savings accounts - can be a great way to stay in charge of your money if you live or work overseas.

They offer a number of benefits to savers looking for an easy way to manage their finances without dealing with the challenges associated with maintaining a UK account while abroad. Lloyds TSB International offers a wide range of international savings products, whether you're looking for an account that offers instant access to your money or something with a great interest rate.

All about international savings accounts

With international savings accounts, you can choose from a variety of options to help you make the most of your money. You can choose to deposit and keep money in a certain currency, for example, to make it easier for you to make withdrawals and pay in cash while you live or work abroad.

There are also international savings products that have terms of varying lengths, offering flexibility if you are overseas for a certain period of time. All of these accounts work in the same way as a standard savings account in the UK - the only difference is you can take advantage of various features to minimise the issues caused by exchange rates and having to convert to and from sterling while you are abroad.

Another advantage is the fact that you won't have to deal with a foreign bank and cope with the problems posed by potentially having to complete paperwork and read statements and other documents in another language.

With an offshore savings account, you'll find that making your savings work for you is a significantly easier process than opting for a product from a bank you're unfamiliar with. Don't forget that if you're yet to move abroad, the efficiency of your current savings products may change once you're overseas.

That's why it's important to review your tax situation and make sure your savings accounts will still work well for you when you're abroad. Opening a savings account offshore could potentially have tax benefits dependant on your circumstances but you should always obtain independent advice on your particular situation and especially seek advice to ensure that your will is still effective to deal with any worldwide assets.

International savings accounts from Lloyds TSB International

International savings accounts from Lloyds TSB offer a host of features and benefits designed to help you better manage your money while you live or work abroad. You can choose from a number of different options - including an account with an introductory bonus for those transferring their savings from another bank and fixed term deposits that can be opened for either one, two, three or five years or for a term of your choosing that comes with customised rates.

Meanwhile, Money Market Call Accounts offer instant access and because they're available in all of the major currencies, you can avoid the effect of currency fluctuations. Lloyds TSB International also periodically launch limited edition offshore deposit accounts that are linked to the stock markets and could offer significant returns.

You can open an international savings account at Lloyds TSB International with a minimum deposit of £5,000 or 5,000 euros, depending on the product you apply for. There's much to think about in terms of your finances when moving or working abroad, so it is vital that you consider all of your options carefully when it comes to making your money work for you.

If you think you might benefit from an international savings account with Lloyds TSB International, just contact them for more information. To find out more, visit Lloyds TSB International.