General Client Account
An internet based deposit account specifically for professional bodies who hold clients’ funds. The interest rate payable on this account is the Bank of England Base Rate (BBR), or its successor, less an interest rate margin set by the Society, dependent on your account balance. The rate payable applies throughout the whole of the month, except when the BBR rate changes. In this event, the interest rate payable will change in line with any changes to the BBR, within 30 days. Account operated via internet only.
More information about this account is available.
GENERAL CLIENT ACCOUNT - Monthly Interest
| Account Balance | AER/Gross % | Net % |
| £3,000,000 & over | 0.50 | 0.40 |
| £1,000,000 - £2,999,999 | 0.25 | 0.20 |
| £100 - £999,999 | 0.10 | 0.08 |
Rates effective from 1st March 2009
Important Information
- Interest rates are variable and calculated on a daily basis. Bonus rates are fixed (unless otherwise stated), calculated on a daily basis and paid annually in accordance with the account terms and conditions.
- 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. As every advert for a savings product will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
- The gross rate is the contractual rate of interest payable before the deduction of income tax at the specified rate.
- 'Net' means the rate of interest payable after income tax is deducted at the appropriate rate, currently 20%.
- Full terms and conditions are available on request.
