Treasurers deposit
A deposit account designed for unincorporated associations such as clubs and societies, which provides instant access to the money invested.
Interest rates - Marsden Treasurers deposit (from 24 April 2009)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £100+ | 0.10% | 0.10% | 0.08% |
| £25+ | 0.10% | 0.10% | 0.08% |
| Key features | |
|---|---|
| Interest rates: | See above, rates are variable |
| Tax status: | Interest paid net after deduction of income tax |
| Conditions for bonus payment: | N/A |
| Withdrawal arrangements: | Instant access, subject to normal operating limits displayed in branch |
| Access: | Branch |
| Minimum opening balance: | £100 |
| Maximum investment: | £250,000 |
| Eligibility: | Non-personal customers resident in the UK |
| Interest payment: | Paid annually on 31 March No interest paid on balances below £25 |
|
Payment account: |
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.
