Treasurers' Trust Account
|
Treasurers' Trust Account (for registered charities)* |
|
Min Investment Amount |
Investment Amount
(Annual Interest) |
Gross p.a. (%) |
AER
(%) |
Net p.a. (%) |
|
£25 |
£50,000 plus |
1.30 |
|
1.04 |
|
With bonus |
£25 - £49,999 |
1.25 |
1.25 |
1.00 |
|
|
| *Includes bonus for registered charities |
| Rates effective from 1st September 2010 |
|
Treasurers' Trust Account (Standard account Rate) |
|
Min Investment Amount |
Investment Amount
(Annual Interest) |
Gross p.a. (%) |
AER
(%) |
Net p.a. (%) |
|
£25 |
£50,000 plus |
0.30 |
0.30 |
0.24 |
|
Without bonus |
£25 - £49,999 |
0.25 |
0.25 |
0.20 |
|
|
| Rates effective from 1st September 2010 |
Specifically designed for clubs, societies, charities and any other associations that require a non-business account. It is therefore not available to businesses of any kind. Our Treasurers Trust account benefits from a 1.00% bonus to Registered Charities.
Features
- Easy access without penalty.
- An initial minimum investment of only £25.
- 'Stepped' interest rates to match your savings.
- Special interest rates for eligible tax exempt bodies.
Age restriction:
Minimum/Maximum deposit:
- £1 minimum, £500 cash and up to 5 cheques (total value at least £100) per day maximum up to £500,000.
Restrictions on deposits:
Withdrawals:
- Any cheques deposited must be cleared before a withdrawal can be made on them.
- Up to £500 cash can be withdrawn instantly.
- Cheque withdrawals over £100, payable to account holder only, can be arranged at any branch.
- No loss of interest.
Interest:
- Interest rates on this account are variable.
- Interest can be transferred to another account that you may have with us, or directly into your bank account.
- Interest calculated on daily basis and credited annually to the account at midnight on 1st April.
Tax:
- Interest will be paid or credited after deduction of income tax at the appropriate rate.
- Non-taxpayers must first complete the appropriate Inland Revenue declaration (R85) to qualify to have interest paid without deduction of tax (Please contact your local Tax Office if you are unsure about your eligibility for tax-free interest).
How do I apply for this account?
Summary of account:
|
Summary Box
Key Product Information for our Treasurers' Trust Account; |
|
Account name |
Treasuers' Trust Account |
|
Interest rates (AERs) |
Current rates are listed above. Interest rates are variable. |
|
Tax status |
Gross or net of income tax. |
|
Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
Easy Access |
| Access |
Branch or agencies |
Interest rates are subject to change from time to time. Changes to our rates are published either in national newspapers or in writing, within 30 days of the effective date.
AER: stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year.
GROSS: The gross rate is the contractual rate of interest before the deduction of tax.
NET: Net rates are shown (rounded to two decimal places) for illustrative purposes after deduction of income tax at 20%.