Important information

With the exception of the Charity Term Deposits, rates of interest for these accounts are variable. Interest for the Charity Term Deposits is fixed at the rate payable on the day the funds are deposited for the fixed term of the deposit. No additional deposits or withdrawals are permitted to our Charity Term Deposit during the fixed term of the deposit. The total Deposits held by a charity across all of its Term Deposit Accounts must not exceed £25,000,000 (this doesn’t include capitalised interest).

Credit interest is calculated for all the accounts in this notice on a daily basis. For Business Choice Charities Account, Charity Instant Access Account, interest will be credited to accounts monthly in arrears. For Charity Term Deposit interest will be credited to the accounts at maturity, or in the case of the 24 Month Charity Term Deposit, annually and at maturity.

##Gross rate. Gross rate interest is the interest payable without taking account of any tax payable. We no longer deduct tax from the interest earned on your savings, following the introduction of a Personal Savings Allowance. If you earn interest over your Personal Savings Allowance you will be required to pay any tax due yourself directly to HM Revenue and Customs. If you would like to read more about your Personal Savings Allowance, please visit the Government website www.gov.uk.

*AER. The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

‡Business Choice Charities Account interest rate is 0.25% below Bank of England base rate and the account is only available to Registered Charities.

**For rates available on longer terms please contact your Customer Banking Centre or telephone 0800 756 0800#.

***Charity Instant Access Account is only available to Registered & Exempt Charities.

#Calls to this number may be monitored and recorded.

Financial Services Compensation Scheme (FSCS)

Protecting your money

Your eligible deposits held by a UK establishment of Clydesdale Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.

This limit is applied to the total of any deposits you have with the following: Clydesdale Bank, Yorkshire Bank and Virgin Money. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please see FSCS leaflet download (Opens in a new window) for further information or visit www.fscs.org.uk  

You can also refer to our FSCS Guide download (Opens in a new window) for more details.