Expat rates: Cash to squirrel away? Don't expect much in return However, that's hardly the case now and fixed rates are in general best avoided. While you can get 1.76pc on a variable notice account (although on a huge £100,000 from Kleinwort Benson [Channel Islands] (www.kleinwortbenson.com) and with 189 days' notice required) you can't get that much on any fixed rate lasting for less than a year. Indeed the best-six month fixed rate is 1.61pc on £50,000 from Nationwide International (www.nationwideinternational.com). Fixing for a year isn't much better: the top rate is Co-operative's 1.87pc, although it is on a low minimum of £5,000 (www.co-operativebank.co.uk/offshorebanking). You would think that fixing for a long period would provide a good rate of return. Yet that's not the case at the moment either. The best two-year fixed rate is just 2.09pc on £5,000, from the Co-operative; for three years it is 2.15pc from Permanent Bank International and for five years, 1.92pc, again from Permanent (www.permanent-bank.com). But no one is likely to want to squirrel their money away for such a long period at the moment, even if the rate is marginally higher than is available on variable-rate deals. While going for the best variable rate might seem a good idea, opting for the Kleinwort Benson deal at 1.76pc - even if you do have the £100,000 required - may not be a good idea either. The variable rate could be cut at any time and the notice period required to withdraw your money is a lengthy six months. Instead, the best strategy for offshore savers now is to opt for a simple no-notice variable-rate account. The best deals currently are Britannia International (www.britanniainternational.com) or Nationwide International, both of which are paying 1.5pc on a minimum £25,000. If you have less, then Santander's Isle of Man branch (the former Alliance & Leicester International) pays 1.25pc on £5,000 (www.santander.co.im). A different strategy to get a top rate on your savings is to opt for regular savings. These accounts pay a fixed or variable rate of interest in return for savers depositing a minimum amount each month. Britannia International, part of the Co-operative Bank, pays 2pc variable over a year if you put at least £50 in the account. The account allows you to make two withdrawals a year but if you make no more than one withdrawal a year and have made 12 months' deposits you get a 0.5 point bonus, increasing the rate to 2.5pc. Lloyds TSB International Regular Saver pays a fixed rate of 3pc on a minimum monthly deposit of £500 and a maximum of £2,500 (www.lloydstsb-offshore.com). You must have an annual income of £50,000 or have at least £25,000 to deposit with Lloyds TSB International. Interest is paid monthly and, if you withdraw money, then you lose the interest for that month. Finally, Norwich & Peterborough's Gibraltar branch offers a one-year fixed rate of 1.5pc plus a further 1.5pc as long as you save every month for 12 months and make no more than one withdrawal a year (gibraltar.nandp.co.uk). You can save between £1 and £250 a month in branch, by post or online, but the account cannot be opened online. Another way of beating low interest rates is to avoid saving, instead risking your money in investments. Many savers appear to have done just that, with funds under management in unit trusts at record levels: £718 billion according to the most recent figures. However, investing is riskier than saving and if you do take the plunge onto the markets, you will need to keep a cash reserve. Advisers typically recommend that you should have at least six months' income on deposit before even considering investing.