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Harrods Bank
 

Instant Access Savings Account - New Customers

Account Available to New Customers Only 
 
A versatile savings account which requires an opening deposit of £25,000 and enables customers to withdraw their funds on demand, with neither transaction fee nor notice period. This account offers an attractive interest rate of 0.50% AER1/0.50% Gross2 p.a. Interest is paid quarterly on cleared balances of £25,000 or more.
 
OPEN AN ACCOUNT
  • Accounts may be credited with a single initial credit of a minimum of £25,000
  • 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 £25,000 or more
  • 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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DOWNLOAD A POSTAL APPLICATION FORM

ACCOUNT SUMMARY

Account Name Instant Savings Account
Interest Rates Interest rates payable – variable
Interest paid quarterly on cleared balances above £25,000
Minimum deposit £25,000. Maximum deposit £2,500,000
Please see our current Credit Interest Rates for Customers
Tax Status 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.
Conditions for Bonus Payment Not applicable – no bonus payment.
Withdrawal Arrangements No notice period required for withdrawals.
Access Cash at counter – Harrods Bank Ltd.
By arrangement – postal or telephone request.
Eligibility This account is only open to individuals of 18 years and above.
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)
UK Residents only
 

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.