Client deposit: non-designated account
The Marsden Client Deposit account is specifically designed for our professional customers looking to open a non-designated client account. Access to funds invested is available by post and telephone.
Interest rates - Client deposit: non-designated - (from 04 June 2010)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £10,000+ | 1.00% | 1.00% | 0.80% |
| Key features | |
|---|---|
| Interest rates: | See above, rate is variable. If the balance falls below £10,000 a rate of 0.10% gross/AER variable applies |
| Tax status: | Interest paid net after deduction of income tax |
| Withdrawal arrangements: | Cheque or electronic transfer |
| Access: | Via the post or telephone. Not available in branch |
| Minimum opening balance: | £10,000 |
| Firm limit: | £2,000,000 |
| Eligibility: | Sole traders, partnerships & limited companies |
| Interest payment: | Paid annually on 31 March |
| Record of investment: | No passbook will be issued. On opening the account you will receive a statement recording your first transaction. Further statements issued on 30 June and 31 December |
| Payment account: (Payment Services Regulations 2009) |
Yes Please refer to 'Payment Transactions and Services leaflet' |
To view the client deposit terms & conditions, please click here
To view the general savings account terms & conditions, please click here
Gross means the contractual rate of interest payable not taking account of the deduction of income tax at the appropriate rate.
Net rates are illustrative only and allow for deduction from gross rate of income tax at the specified rate i.e. assuming rate of income tax at 20%.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Tax Free is the contractual rate of interest payable where interest is exempt from income tax.
