For customers with between £20,000 and £2,500,000 to deposit over a 5 year fixed term, a guaranteed interest rate of 1.50% AER1/1.50% Gross2 p.a. can be obtained over the whole term. Interest is posted annually on 31st December and at maturity, when a statement is also issued.
OPEN AN ACCOUNT
- Accounts may be credited with a single initial credit of a minimum of £20,000
- Interest can either be paid to a Harrods Call Deposit Account or be added to your Fixed Rate Deposit Account
- No withdrawals are permitted and your capital must remain in the account for the 5 year fixed term until the maturity date
- Customers must be a minimum of 18 years of age, and a UK resident
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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.