Private Term Deposit - Monthly Capitalised Interest Rates 12 months
How it works
Monthly capitalised and repaid interest means that any interest that accrues on your deposit is repaid to you on a monthly basis. In order to apply for this Private Term Deposit, you must be an existing customer with a Clydesdale or Yorkshire Bank current or savings account in order to receive any monthly interest payments. When your deposit matures, you will be repaid your initial investment. You will also have the option to reinvest your deposit into another Private Term Deposit that we have available when your existing deposit matures.
Current offers
The table below provides details of the special terms and rates available today on our Private Term Deposits. These terms and rates are reviewed regularly and can be changed at any time. The term and rate you choose will only remain available to you as long as the completed Application Form and Cleared funds are available within 5 Business Days of the offer last being posted on the web page.
Term Deposit £10,000 - £5,000,000
| Term | Gross* % pa |
AER+ % pa | Net** % pa |
|---|---|---|---|
| 12 months |
3.35
|
3.40
|
2.68
|
Rates of interest are subject to change but are correct from 14th March 2012.
To deposit funds in the above offers simple decide how much you wish to invest and then click on Apply. See Frequently Asked Questions regarding Commencement and Maturity Dates and withdrawals.
Interest rates are fixed from the Commencement Date of the Deposit. Interest is paid at the end of each calendar month and at maturity.
Withdrawals or early closure of the Term Deposit are not permitted under any circumstances during the Fixed Term except in the event of the death of the Account Holder (or one of them if joint account). See Terms and Conditions of the account for further information
Definitions
*Gross Rate. Gross interest is interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time of payment (presently 20%).
+AER: The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
**Net Rate: The Net rate is the Gross rate less tax at the lower rate of 20%. Tax at this rate will be deducted from accounts subject to tax at the time interest is paid. Non-taxpayers may register for payment of interest gross. Tax paid may be reclaimed, where appropriate, from the Inland Revenue.