Treasury Account

Suitable to those who have a substantial sum to invest for a fixed term. It offers a choice of investment periods.

Treasury (0.70% - 1.30% Gross/AER)

Interest rates viewable here for organisations.

  • Choice of 6, 12 or 24 month terms (Other terms by special agreement)
  • Minimum balance £50,000
  • Maximum balance £1,000,000 (Higher amounts by special agreement)
  • Interest rate is fixed at outset, and paid annually or at maturity
  • No additional deposits or withdrawals allowed during the term

How to Apply

Summary box for the

Non-Personal Treasury (0.70% - 1.30% Gross/AER)

What is the interest rate?

The interest rate is a fixed rate as follows:

  • 6 months savings bond is 0.70% AER
  • 12 Months Savings bond is 1.00% AER and
  • 24 Months Savings bond is 1.30% AER

Interest is compounded to the account at the end of the term or at each anniversary and / or at the maturity date.

Interest accrues on the daily balance of the Account at the fixed rate notified to you on opening the Account.

Can Kingdom Bank change the interest rate?

No.

We are not able to change the interest rate mid term.

What would the estimated balance be after 12 months?

If you deposit £50,000.00in a 6 months Savings bond, the balance after 12 months will be £50,350.00.

If you deposit £50,000.00 in a 12 months Savings bond, the balance after 12 months will be £50,500.00.

If you deposit £50,000.00 in a 24 months Savings bond, the balance after 12 months will be £50,650.00.

This will apply to the 12 month and 24 month treasury as standard, on the 6 month treasury this assumes:

  • You don’t withdraw any money and interest is paid into this account.
  • The interest rate stays the same.
  • You don’t add any more money.

How do I open and manage my account?

Opening:

You must open the account with at least £50,000.00.

No account can be opened until a correctly completed, signed and dated application form is received in the post together with our other standard account opening forms and our performing all preliminary identification and other checks to our satisfaction. We will also require a completed and signed Mandate form.

Managing:

No further deposits may be made after the account is opened.

This is a savings account with telephone banking functionality. You are able to advise us about re-investment and withdrawals by telephone. All withdrawals are made to a nominated account (set up on account opening) by calling the bank and completing the security procedure using characters from a password. You are also able to request a re-investment or withdrawal in writing.

We will contact you before your treasury matures to offer you a range of options including re-investment and withdrawal options.

As with all accounts for organisations, there are some rules:

  • All instructions should be authorised by the correct number of signatories, in accordance with the latest Mandate.
  • If you change your mind, you can advise us in writing and we will cancel the account free of charge within 14 days of opening.

Can I withdraw money?

No deposits or withdrawals are permitted during the term of the deposit.

All withdrawals must be made to an account in the same name. We will not permit a withdrawal to a third party by any method.

No charges or penalties (except those referred to in out terms and conditions where we permit early withdrawal at our discretion and any charges on transfer before maturity or notice period served) apply to these accounts.

Additional information

Savings terms explained

AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

For more definitions, view our savings glossary.

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