corporate/treasurers deposit account
Are you investing on behalf of an organisation?
Click here for the summary box - key product information for this savings account.
If you are investing on behalf of an organisation, we offer two instant access deposit accounts which may be suitable. Our Treasurers Deposit account is available for unincorporated bodies, such as sports clubs and charities, or if you are investing on behalf of a company, then take a look at our Corporate Deposit account.
Both deposit accounts are instant access, which means you are free to make deposits and withdrawals whenever you need to and you do not have to give us notice.
If you want to find out more about applying for a Corporate or Treasurers Deposit Account, contact your local branch or telephone us on 01325 366366 today!
What are the full terms and conditions?
- Account name:
- Corporate/Treasurers Deposit Account
- Minimum amount to open the account:
- £1.00
- Maximum Investment:
- £500,000.00
- Investment conditions:
- You can make investments at any branch or agency, up to a maximum of £500,000.
- Withdrawal conditions:
- You can make withdrawals without giving notice at any branch or agency, subject to their individual branch or agency limits.
- Interest payment:
- Interest is calculated on a daily basis and is added to the account on 31 March each year.
- Eligibility:
- A Corporate Deposit Account is only available to UK Companies, Friendly Societies and Building Societies. A Treasurers Deposit Account is only available to unincorporated bodies, for example, sports clubs, charities, partnerships and solicitor's client accounts.
- Notes:
- If you are investing on behalf of an organisation and are unsure of its status you are advised to seek legal advice or, where appropriate, to consult the organisation's supervisory or regulatory body. These accounts have deposit and not share status. Depositors do not have membership or voting rights and are bound by the Society's general terms and conditions which apply to deposit accounts. Please contact us for a copy.
Current interest rates
| Amount | Gross * | Gross AER # | Net * |
|---|---|---|---|
| £1+ | 0.05% | 0.05% | 0.04% |
Please make sure that you have read and fully understand the full terms and conditions before you decide to open this account. If you need any further information please telephone 01325 366366, email sales@darlington.co.uk or contact your local branch.
You should also read our general terms and conditions which you can download to the left of this page and which also form part of the terms and conditions of this account.
We are part of the Financial Services Compensation Scheme.
* - The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law, and the net rate is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate. Interest will be payable net after the lower rate of income tax has been deducted or, subject to the required certification, gross. Where the tax deducted exceeds an investor's tax liability (if any), a claim may be made to the Inland Revenue for repayment of tax. For individuals whose income falls within the lower or basic rate bands, the tax deducted will match their liability to tax on the interest and they will have no more tax to pay on it. Individuals who are liable at the higher rate of income tax of 40% will have to pay an additional tax on the interest to cover the difference between the tax deducted and the higher rate of tax due.
# - A.E.R. stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
