• What is the interest rate?

  • 4.40%

    Gross PA / AER*

     

    Accrued interest is calculated daily and paid yearly and at the end of the term into your nominated bank account.

     

    *AER stands for Annual Equivalent Rate and illustrates the interest rate you would earn from a savings account over the course of a year, and it takes any compounding of interest into account. Gross PA means Gross Per Annum, which shows the interest rate payable without tax deducted.

• Can Close Brothers Savings change the interest rate?

  • No, the interest rate is fixed and won't change during the term.

     

    We'll pay the advertised interest rate if your full deposit is received within 5 calendar days (if this window is missed, you may need to reapply for the new terms and interest rates available at the time). 

• What would the estimated balance be after 12 months based on £100,000 deposit?

  •  

    Initial deposit	Interest rate	Interest earned after 12 months	Estimated balance after 12 months
    £100,000.00	4.40%	£4,400.00	£104,400.00

     

    This example assumes:

    • You deposit money when you open the account
    • You don't add more money
    • You don't withdraw any money
    • The interest rate doesn't change.

     

    Please note: Individual circumstances are not considered.

     

• How do I open and manage the account?

  • Opening the account

    To apply you and any joint applicants must meet all of the following:

    • Be a UK registered company, institution or charity
    • Depositing between £100,000 and £5 million per account.

     

    You can send us your money by cheque or electronic transfer from your nominated bank account. Single or multiple electronic bank transfers can be used to send us your deposit. This account can be applied for by post via our Business Development team.

     

    Managing the account

    Managing your account is easy, simply call or write to us.

• Can I withdraw money?

  • No, you can't take money out of the account until the end of the term.

• What happens at maturity?

  • We will reach out to you on the day your deposit matures to explain your options. You can choose to reinvest your money or have it repaid to your company's nominated bank account.

Additional information

Tax information

We don't deduct tax from the interest we pay you. Your tax benefits depend on your personal situation and may change in the future.

Key documents

It's important you take time to download and review the key product information, and terms and conditions for this account before applying.