5 Year Fixed Rate Business Trust and Charity Bond Issue 6
What is the interest rate?
Where the balance on the account is £10,000 or more, the interest rate will be 2.50% Gross/AER fixed.
Interest is paid annually; we calculate interest daily and add it to your account on the anniversary of you opening it and on maturity.
Can Cambridge & Counties Bank change the interest rate?
The interest rate is fixed for the length of the term.
Once the bond has matured, there are circumstances in which Cambridge & Counties Bank has the right to change the interest rate. More information can be found in the terms and conditions, section 16.
What would the estimated balance be after 60 months based on a £10,000 deposit?
£11,314.84 after 60 months.
This figure is based on a £10,000 deposit with the interest added to the account, and all conditions of the account being met.
This assumes the full funds are cleared in your account on the day your account is opened.
How do I open and manage my account?
You’ll need to make a minimum deposit of £10,000, the most you can deposit is £500,000 (£7.5m per entity overall with Cambridge & Counties Bank).
The deposit must come from your nominated business current account by cheque or transfer.
It’s easy to apply using our application form which is available on our website, or call us on 0344 225 3939 and we can send you one.
We accept applications from UK based Sole Traders, Partnerships, Limited Companies, Limited Liability Partnerships, Charities, Societies, Clubs, Associations, Trusts and Parish Councils.
All account holders must be aged 18 or over, resident in the UK and only liable to pay tax in the UK.
You can manage your account via our online account access facility, or by post.
To contact us about your account, email [email protected] or call our team on 0344 225 3939 and speak to our UK-based team who will be available to take your calls between 9am-5pm Monday to Friday, excluding Bank Holidays.
Can I withdraw money?
You cannot make withdrawals or close the account before the end of the term of the bond.
We will typically contact you 14 days before maturity to let you know the options available to you. Transferred, reinvested and returned funds will be available in your account the following working day after maturity.
At the end of the term, if we don’t receive any instructions from you, your account will become an Easy Access account and the rate will reduce to a nominal, variable interest rate. You can then transfer funds to your nominated business current account or to another of our accounts.
The account terms and conditions contain the important information regarding this account. This document can be found on our website, ccbank.co.uk/FRBT&C.
AER (Annual Equivalent Rate) illustrates what the interest rate would be if the interest was paid and compounded once each year.
Interest is paid gross, it is your responsibility to pay any tax that may be owed to HMRC.
Application forms can be completed either by hand or electronically, please read through the page titled ‘Electronic Application Form’ before completing your application. The completed application form should be sent with a cheque drawn on your nominated current account (made payable to the name of your organisation) to:
Cambridge & Counties Bank, Savings Account Opening
5B New Walk
You do not need to send any identification documents with your application at this stage as we use an electronic identification process. If we are unable to verify the identity of any of the account parties, we will be in touch to confirm the additional documents we need. Please find our Privacy Notice here.