Harrods Bank

A versatile, interest earning business deposit account, which requires an opening deposit of just £1 and which enables business customers to withdraw funds on demand, with neither transaction fee nor notice period.

With a minimum opening deposit of just £1, and no notice period required in order to make withdrawals, our Business Call Deposit Account provides a flexible, interest earning account in which to hold modest levels of cash, or cash which the business would not wish to place out of reach for any period of time.

The account pays interest on all cleared balances of £1 or more. To view an up to date breakdown of the rates of interest paid on this account click here.
Account Name Business Call Deposit Account
What is the interest rate? Balances of £1 - £49,999           0.30% Gross / AER
Balances of £50,000 - £99,999  0.60% Gross / AER
Balances of £100,000+              0.85% Gross / AER
There is no bonus interest payable.
Interest is variable and calculated daily on the cleared balance. Interest will be applied to the account quarterly on the last business day of March, June, September and December.
Can Harrods Bank Ltd change the interest rate? Interest is variable and we may change the interest rate paid on your account balance.
In line with 27.1 of our T&C's we may make such changes without notice if the change is in your favour and will inform you of such change within 30 days and in all other cases we will give you at least two months' prior notice of any change we make.
What would the estimated balance be after 12 months based on a £20,000 deposit? £20,060 gross
Assuming a start date of 21 November 2016 and no rate changes. Provided for illustration only and does not take individual circumstances into account.
How do I open and manage the account? These accounts are only open to individuals of 18 years and above.
Account can be opened by postal application or by visiting our branch.
Minimum deposit £1
Maximum deposit £2,500,000
Once open you can manage your accoount by phone, by post or in branch. For more information see Contact Us.
Can I withdraw money? Cash at counter - Harrods Bank Ltd.
By arrangement - postal or telephone request.
No notice period required for withdrawals.
Additional Information Interest is paid at the Gross rate without deducting any tax. Any interest earned will count towards your Personal Savings Allowance and you will be responsible for paying any tax due on interest credited to your account. Please refer to HMRC for further details.
The Bank has the right to withdraw the product at any time and you will not be informed in writing if the Bank does so (please note this does not apply for existing holders of this account).
Interest is posted to the account quarterly, and statements issued quarterly.
Customers must be a minimum of 18 years of age to open a Business Call Deposit Account.
See a summary of all our business accounts with the key product facts - please click here