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Harrods Bank
 

120 Day Notice Account

For customers with balances of £20,000 or more, and with a withdrawal notice period of 120 days, this account offers an attractive interest rate of 0.60% AER1/0.60% Gross2 p.a. Interest is paid quarterly on cleared balances of £20,000 or more.
 
OPEN AN ACCOUNT
  • Accounts may be credited with a single initial credit of a minimum of £20,000
  • Additional credits may be made at any time, up to a maximum balance of £2,500,000
  • Interest is paid quarterly on cleared balances of £20,000 or more
  • 120 days notice is required to make a withdrawal
  • There is no fee to withdraw funds
  • Customers must be a minimum of 18 years of age, and a UK resident

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ACCOUNT SUMMARY

Account Name 120 Day Notice Account
What is the interest rate? 0.60% Gross / AER
Interest is paid to the 120 Day Savings Account quarterly on cleared balances above £20,000
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. A statement will be issued to you quarterly.
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 Terms & Conditions, 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 will give you at least 2 months' prior notice of any change we make.
What would the estimated balance be after 12 months based on a £20,000 deposit? £20,120 gross
Assuming an open 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 my account? These accounts are only open to individuals of 18 years and above.
Account can be opened by postal application, visiting our branch or online via our website www.harrodsbank.co.uk
UK residents only.
Minimum deposit £20,000
Maximum deposit £2,500,000
Once open you can manage your account by phone, by post or in branch. For more information see the Contact Us page on the website.
Can I withdraw money? Cash at counter – Harrods Bank Ltd.
By arrangement – postal or telephone request.
120 Days notice required for withdrawals. No early withdrawal allowed.
Additional Information 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 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.
 

To see a summary of all our personal accounts with the key product facts please click here


1 AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. This allows you to compare easily what return you can expect from your savings over time.

2 The Gross Rate is the rate of interest you would receive on a savings account before the deduction of Basic Rate Tax.