Eligibility
To apply for this account. you must be:
- A UK registered company, UK Institution or a UK registered charity
- Depositing between £100,000 and £5 million per account
Key account information
What is the interest rate?
4.50% |
| Gross PA / AER* |
Note, accrued interest is calculated and payable annually and at maturity (the end of the term) into your nominated bank account.
*AER stands for Annual Equivalent Rate. It illustrates what the interest rate would be if interest were paid and added each year. Please note, interest is not compounded. Gross PA means Gross Per Annum, i.e. before tax is deducted (at the legal rate).
Can Close Brothers Savings change the interest rate?
No. Your rate is fixed, so it will stay the same for the entire term of your savings account. It means you’ll always know exactly how much interest you’ll earn annually.
What would the estimated balance be after 12 months based on a £100,000 deposit?
| Initial deposit | Interest rate | Interest earned after 12 months | Estimated balance after 12 months |
|---|---|---|---|
| £100,000.00 | 4.50% | £4,500.00 | £104,500.00 |
Illustration based on the initial deposit shown being deposited at the time the account is opened. This projection is provided for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage the account?
It’s easy to apply by post. The minimum opening deposit is £100,000 and the maximum is £5 million. You can pay money into your account by cheque or electronic bank transfer (details will be made available as part of the application).
Managing your account is easy too. Simply call or write to us and we'll help with any questions or instructions.
Can I withdraw money?
No, you can’t take money out of a Fixed Term Deposit, so you need to be sure you’re happy to leave your money in the account until the end of the term (maturity).
Before the end of the fixed term, we’ll let you know what your maturity options are.
What happens at maturity?
We will contact you on the day your deposit matures and explain your options. You can instruct us to reinvest your money or have it repaid into your company's nominated bank account.
Additional information
Tax information
We do not currently deduct tax from any interest paid to you. Tax benefits depend on individual circumstances and could change in the future.