Charity direct 30
The Marsden Charity direct 30 account provides a higher rate of interest for registered Charities in return for 30 dyas' notice of withdrawal. Access to the funds invested by post or telephone.
Interest rates - Chairty direct 30 (from 4 June 2010)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £10,000+ | 1.25% | 1.25% | n/a |
| Key features | |
|---|---|
| Interest rates: | See above, rates are variable. If the balance falls below £10,000 a rate of 0.10% gross/AER variable applies |
| Tax status: | Interest normally paid gross subject to completion of a Charity Declaration Form |
| Conditions for bonus payment: | N/A |
| Withdrawal arrangements: | 30 days' notice or 30 days' loss of interest. Minimum withdrawal £250. Cheque or electronic transfer |
| Access: | Via the phone or post. Not available in branch |
| Minimum opening balance: | £10,000 |
| Maximum investment: | £250,000 |
| Eligibility: |
Registered Charities and Churches (Charity Declaration form must be completed - The account is not open to incorporated organisations) |
| 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) |
No Please refer to 'Payment Transactions and Services leaflet' |
To view the Chairty Direct 30 savings account 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.
