Charity account
The Marsden Charity account is designed for investments made by or on behalf of registered Charities and Churches, providing an ideal account for any surplus funds.
Interest rates - Chairty account (from 24 April 2009)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £1+ | 0.10% | 0.10% | n/a |
| Key features | |
|---|---|
| Interest rates: | See above, rates are variable |
| Tax status: | Interest normally paid gross subject to completion of a Charity Declaration Form |
| Conditions for bonus payment: | N/A |
| Withdrawal arrangements: | Instant access, subject to normal operating limits displayed in branch |
| Access: | Branch |
| Minimum opening balance: | £1 |
| Maximum investment: | £250,000 |
| Eligibility: | Registered Charities and Churches (Charity Declaration form must be completed) |
| Interest payment: | Paid annually on 31 March |
| Payment account: (Payment Services Regulations 2009) |
No Please refer to 'Payment Transactions and Services leaflet' |
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.
