Business Deposit Account
| Summary Box - Key Product Information for our Savings Account | ||||
|---|---|---|---|---|
| Account Name | Business Deposit | |||
| Interest rates (AERs) | Gross | Net | AER | |
|
£10,000+ |
1.25% | 1.00% | 1.25% | |
| £50,000+ | 1.50% | 1.20% | 1.50% | |
| £100,000+ | 1.75% | 1.40% | 1.75% | |
| Tax Status | Interest is paid net of income tax at the appropriate rate. | |||
| Conditions for bonus payments | No bonus payment is payable. | |||
| Withdrawal arrangements |
No more than 15 withdrawals are allowed in each year. The year starts from the day the account is opened and on the anniversary date thereafter. You can withdraw or transfer all or part of your investment providing we receive: Withdrawals via cheque, BACS or CHAPS only. CHAPS is subject to our standard charge. |
|||
| Access | Via branch or post. | |||
These rates apply from September 2011.
Gross % rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
The 'net rate' is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
AER % rate stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Product features
- 7 days notice is required for withdrawals or instant access with 7 days loss of interest
- No more than 15 withdrawals are allowed in each year. The year starts from the day the account is opened and on the anniversary date thereafter.
- Deposits accepted by cheque or electronic transfer. Cash deposits are not allowed
- Withdrawals by cheque, BACS or CHAPS (There is no charge for BACS transfers)
- Save from £10,000 up to £1,000,000 (please do not make cheques payable to Leek United)
- Variable interest rate
Terms and conditions relating specifically to this account must be read in conjunction with our Statement of Practice Investors leaflet, which details generic terms and conditions relating to all of our savings accounts.
Download an application form PDF - please complete the form and return.
Please do not make cheques payable to Leek United
Details of the Financial Services Compensation Scheme can be found in the 'Other Information' section on the left of this page.
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