Required initial deposit
Required monthly average daily balance
Required daily balance to earn interest
Interest rate per annum
1) ADB refers to Average Daily Balance, which is defined as the sum of the daily end-of-day balances in the account for a month divided by the number of days in that month. The formula for computing ADB is as follows:
ADB = (Day 1 ending balance + Day 2 ending balance …+ Day 30/31 ending balance)
Number of days in the month (i.e. 30/31 days)
2) Daily Balance is equivalent to end-of-day account balance.
3) Interest payment is calculated daily based on end of day account balances and credited monthly. No interest will be paid out in the event that you close your account before the date of credit.
|Amount||91 days||182 days||364 days|
|5,000 - 9,999||4.000%||4.250%||4.500%|
|10,000 - 84,999||4.000%||4.250%||4.500%|
|85,000 - 149,999||4.000%||4.250%||4.500%|
|150,000 and above||Call treasury unit for quote||Call treasury unit for quote||Call treasury unit for quote|
1) Interest rates are variable and we reserve the right to amend them from time to time.
2) Day count convention for GBP currency day is 365.
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