Expat rates: sobering facts about how much your money earns With notice accounts, the average rate was 4.23pc so you would have needed to have a deposit of £2,364 to earn £100 interest. But today, with the typical no-notice account paying 0.9pc you'd have to put away £11,111 to earn £100 interest; the average onshore notice account pays 1.17pc so you would need £8,547 to earn £100 interest. Offshore, the picture is even bleaker. Onshore, at least the market for savers" money has remained fiercely competitive over the past five years with new entrants still keen to encourage deposits from new customers with top deals. Offshore, the five years since the credit crunch bit has seen banks leaving the market - but no new ones coming in to replace them. There are currently really only nine banks which compete to offer good deals to offshore savers, although there are around 20 taking expat deposits. Five years ago, there were at least 15 offering competitive interest rates. But many have gone - including Northern Rock International, Yorkshire Guernsey, Bradford & Bingley International and the latest, AIB International, which is currently winding up its business. With each withdrawal from the market, the number of competitive deals for expats has diminished. This lack of competition does mean that unless you actively seek out the best deals, you could end up with your money in some very low paying accounts. For example, NatWest International pays 0.4pc on a minimum £100,000 on the 30-Day Bonus Reserve account, although the rate is boosted by 0.5 of a point if you make no more than four withdrawals a year. While expat savers are swimming in a tiny pond, it doesn't mean they should give up hope and not try to get a good deal. It is disheartening to see how we're all getting so much less on our savings now than five years ago - but actually there are still some great deals out there. Being able to fix your savings at 4.3pc for five years with Lloyds TSB International when base rate is just 0.5pc must look a good deal to most people. It's certainly better than any mainstream onshore bank is offering to savers - indeed the best onshore five-year deal is probably 4pc from Halifax, which is also part of the Lloyds Banking Group. And while typical rates for variable deals on and offshore look poor, you can easily do better than just average. Nationwide has 2.5pc on £25,000 on a variable rate no-notice account which is a good deal for your "rainy day" emergency money as well as longer term savings. However, that's quite a long way below the best easy-access onshore deals, which top 3pc. But, frankly, fixed rates are the best option - as long as you're happy tying your money up. However, over the past few weeks, rates have been falling and now Bank of Ireland (IOM) has cut its six-month fixed rate for new savers from 2.77pc to 2.43pc, leaving its fellow Irish-owned rival Permanent Bank International with a clean sweep on the top deals for ultra-short term fixes. However a longer term fix might be advisable. The Bank of England is due to announce its base rate decision tomorrow: savers had better cross their fingers that the Bank doesn't decide to take the plunge and cut base rate. Money markets appear to be predicting it won't cut base until next spring: so fixing at current rates seems to be a sensible option.