This came from Ardan and thought I would forward it on as a number of expats are looking for higher fixed returns (5%+) and these are offering 5.34% In USD and 5.24% in GBP for one-year rates. I do not think it should deter from long-term financial planning out for expats looking for short-term deposits it may be worth a look.
To help clients make the most of their cash in the short term, Ardan has launched a range of Fixed Term Deposit and Notice accounts with Lloyds Bank International through the Ardan Platform.
It means, rather than having money sitting in their Ardan cash account, it can be earning a solid rate of interest.
The accounts
GB Sterling
- 3 months/6 months/9 months/12 month accounts (minimum deposit GBP 10,000)
- 32 Day Notice account (minimum balance requirement of GBP 100,000)
- 95 Day Notice account (minimum balance requirement of GBP 100,000)
US Dollar
- 3 months/6 months/9 months/12 month accounts (minimum deposit USD 10,000)
- 32 Day Notice account (minimum balance requirement of USD 100,000)
- 95 Day Notice account (minimum balance requirement of USD 100,000)
Euro
- 3 months/6 months/9 months/12 month accounts (minimum deposit EUR 10,000).
We will place new deposits into these accounts with Lloyds once a week. Rates on the accounts will be subject to change, and the current rates will be displayed on the Fixed Term Deposit Accounts section on the Ardan International website.
Charges
We will charge £50 or currency equivalent for each deposit placed and £50 (or currency equivalent) when the deposit matures.
How it works
Each week we will set up 16 new assets (4 for each of the 3 currencies to cover the different terms and 2 each for GBP and USD to cover Notice account terms).
The name will contain the date the deposits/Notice accounts will be placed and the currency – for example, Lloyds Bank International GBP 3 month fixed deposit (14 April 2023).
We will place deposits and set up new Notice accounts once a week with Lloyds, on a Friday. Cut off to submit instructions will be 10am (UK time) each Thursday. You will be able to view the current rates for all 16 accounts on the Ardan website.
We will start placing deposits on Friday 26 May, which means we will need any instructions by 10am (UK time) on Thursday 25 May.
More information about our Fixed Term Deposit accounts is available in our guidance notes and via our Cash Deposit Declaration Form which can be found on our dedicated Deposit Accounts page.
If you would like to discuss this further, please email me on this email.
The current rates:
current-interest-rates.pdf (ardan-international.com)
If you have any questions, please contact me by using the button below or the contact page. Please note this is not personal financial advice, if you need personal advice, please contact me or a qualified advisor.
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