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The World's Highest Interest Rates at Offshore Banks in 2018

Many of the wealthiest people in the world will store their money in offshore bank accounts. There are several reasons as to why people may opt to do this. This includes: Gaining tax advantages, Diversifying cash assets to minimize the risk, The increased interest rate in some locations, Lower regulation, Protection against instability

On this page, we are going to talk specifically about offshore banks which offer the highest interest rates. Yes, some of these offshore banks will have the other advantages due to the country they are located in, but the aim is to talk about interest rates.

What are interest rates?

When you deposit money in a bank, the cash won’t just be sitting there. It will be lent out to other people and businesses. When the borrowers pay back the money, they will pay back a fee on it. This is known as an ‘interest rate’. Since when you deposit you are technically lending money to the bank to do this, you will be gaining a proportion of the money the bank makes.

In some countries, the interest rate is going to be negligible on all but the biggest of deposits. As a result, many people opt for offshore banks where they are able to gain a greater return on their deposits, although do bear in mind that higher interest rates often mean higher risks.

Interest Rates


Georgia is probably one of the simplest places in the world to open a bank account, even if you are not a citizen. There is little to no risk in depositing in Georgia too. Some of the largest banks in the country (TBC Bank and Bank of Georgia) are listed on the London Stock Exchange and offer incredibly high-interest rates on deposits.

The average interest rate found in Georgia is about 10%, although there may be smaller interest rates for those who are not residents of the country. That being said, the interest rates that you gain in Georgia are still going to be incredibly high compared to more ‘stable’ economies.

Many of the interest rates are for fixed term deposits of a year or two, although you may find banks that allow you to deposit cash for longer periods of time. Most banks will allow you to deposit using the dollar, although the best interest rates will be available in the local currency.

Georgia's map


Armenia is very much a developing country, much like many of the ex-Soviet Union countries. It is simple to open up a bank account here too. One of the wonderful things about Armenia is that the Armenian dram (i.e. the currency used in the country) has been relatively stable as of late, and the Armenian government seems to be a lot more stable than previously, so it is unlikely that this is going to change.

Again, most of the deposits here are going to be ‘term deposits’, and it is not uncommon to find interest rates somewhere around the 9.5% mark if depositing in dram. However, if you are depositing money into your offshore account using the dollar, then you are probably going to be earning far, far lower interest rates than this.

Armenia's flag form


It is a bit more difficult to open up a bank account in Azerbaijan, although certainly possible for non-residents. The average interest rate here is about 10% over 12-months. However, some banks here do things a little bit differently. You are able to accept a lower interest rate ‘up front’, which is ideal for those who want an instant boost in their earnings, although you will still need to keep your money in the bank account for at least 12-months. If you deposit in $, then expect the interest rate to be closer to the 3% mark.

Azerbaijan's flag


Various political issues have made Turkey a slightly more difficult place to deposit cash, and you will need to have a Turkish tax ID to deposit cash here. However, if you do have that, and you deposit in Turkish Lira, then you could feasibly gain an interest rate of 15% over the course of 92-days. This means that it is one of the best short-term offshore deposits. However, do bear in mind that the Lira is very unstable still, so it is going to be one of the riskiest deposits that you can make.



If you are depositing in $ or €, then you will find Mongolia is best for deposits. You get around 5% interest rate on dollar deposits and a shade over 3% for Euros. If you are using Mongolian tugriks for your currency, then you may be able to gain as much as 14% dependent on the bank you are using. However, it is a touch more difficult to open bank accounts in Mongolia than in other places on this list.

Mongolia's flag
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