Treasurers' Trust Savings Account
|
Treasurers' Trust Account |
|
Min Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£5 |
£50,000 and over |
0.30 |
0.30 |
0.24 |
|
£25,000 to £49,999 |
0.25 |
0.25 |
0.20 |
|
£10,000 to £24,999 |
0.20 |
0.20 |
0.16 |
|
£5,000 to £9,999 |
0.15 |
0.15 |
0.12 |
|
£500 to £4,999 |
0.10 |
0.10 |
0.08 |
|
£5 to £499 |
0.05 |
0.05 |
0.04 |
|
Previous Rates - Treasurers' Trust Account |
Rates effective from 20th February 2009
'Stepped' interest rates
This savings account is specially designed for clubs, societies and charities. Our Treasurers' Trust Account comes with 'stepped' interest rates.
Features
- Instant access without penalty
- An initial minimum investment of only £5
- '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- Up to £100 - £500 cash can be withdrawn instantly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)
Additional Information:
How do I open a Treasurers' Trust Account?
Signatories must complete the application form, presenting this along with funds at
your local Stroud and Swindon branch. All signatories will need to undergo an electronic identification search, further details of which can be found in either our
Personal Identification section or by speaking to one of our branch staff.
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 |
Instant Access |
| Access |
Branch or agencies |
Net rates assume the lower rate of income tax of 20%. These figures are rounded and are for illustrative purposes only.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded each year.
GROSS: The gross rate is the contractual rate of interest before the deduction of tax at the appropriate rate specified by law. Interest will be paid gross to non-taxpayers subject to the required HM Revenue and Customs certification (R85).