Our Sports and Social Clubs account is a branch-based, instant access savings account. You need to be a Club, Society or Association.
This account can be withdrawn at any time.
Perfect if you...
- Need a savings account for a Club, Society or Association
- Want instant access to your funds
- Want to withdraw your funds as and when you need to
- You must be a Club, Society or Association registered in the UK
- You will need a minimum deposit of £1 to open the account
- The maximum balance of this account is £2,000,000
Sports and Social Clubs account
The interest rate paid on the account will be paid as below:
|Minimum balance||Interest||Gross p.a./AER*|
Rate effective from 26 July 2023.
Interest is calculated each day on the available money in your account and is paid on 31 December every year.
The interest rate for this account is variable. This means we can change it at any time. You can find full details in our Savings Terms and Conditions.
If your account falls below the minimum balance, the interest rate we'll pay you will reduce to 0.05% Gross p.a/AER variable*.
This is based on no further money being paid in or taken out of the account and no change to the interest rate.
|Balance||Gross p.a./AER*||Balance after 12 months|
- The Club, Society or Association must be registered in the UK.
- Signatories must be 16 or over and a UK resident.
- You can open your account in branch, by post.
- You'll need to keep a minimum balance of £1.00 in your account to get the interest rate.
- The maximum amount you can pay into this account is £2,000,000.00.
- You can manage the account in branch, by post, by phone, on webchat.
- The money paid into the account belongs to the business only.
Yes, you can take money out of this account anytime, in line with our daily withdrawal limits. This means you can also close your account anytime.
Our Savings Promises provide you with additional peace of mind, including penalty-free access to your money if your life circumstances significantly change (e.g. serious illness, redundancy, etc). For more information please click here or ask us.
If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax to HM Revenue & Customs (HMRC). For more information visit gov.uk.
* Interest Rate definitions: Gross is the interest rate without the tax deducted. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year.
Where the Savings Terms & Conditions are inconsistent with the account-specific rules and criteria, these account-specific rules and criteria will apply and will take priority.
- This account is for business monies only. Client funds cannot be held in this account.
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