The most important benefit of offshore savings account is of course tax saving. So you need not pay any inheritance taxes, death duties or capital gains tax for offshore savings account. If you are a business man who deals in foreign currencies then offshore accounts are best for you. Lloyds TSB offers offshore accounts in different currencies like sterling, Euro, dollar etc. Also if you are a frequent international traveler or require constant access to your accounts then offshore savings account can be a life saver. Lloyds TSB offshore account will offer you 24 hours access in most major cities of the world. You do not even need to visit the bank physically. Just utilize the internet and phone banking facilities.

Beneficial features of Lloyds TSB offshore accounts include competitive interest rates, 24 hour access, phone and e-banking services, choice of currencies and a safe heaven for your money. The different types of offshore accounts offered by Lloyds TSB are international incentive saver account, international bonus saver account, fixed term deposit, offshore limited accounts deposit and money market call account.

Once you have made a choice of which type of account you wish to open just click on the button saying apply now. There is a seven step online application form which you need to fill up. Each step has 15 minutes timed. If you do not finish within that time you have to start from the beginning again. You need a valid e-mail address and residential address where you have been residing for at least the last three years. Once the application form is submitted a confirmation e-mail is sent to the candidate and his/her application is processed for two days. After this the bank asks for supporting documents. Once the supporting documents reach them your account will be opened and you will be sent a confirmation letter with details within the next five days.