Tandem Money Limited has announced that it has signed an agreement to acquire Harrods Bank. The transaction is subject to regulatory approval. The Bank will remain authorised by the PRA and regulated by the PRA and FCA and will continue to operate its business and service its customers. The Bank’s deposits are also protected by the Financial Services Compensation Scheme, the UK's deposit protection scheme, and will remain protected once the acquisition receives regulatory approval.
For further details please click here.
We recognise that savers have individual needs, and so provide an array of savings accounts designed to satisfy these. It is our aim to make your banking experience as simple and straightforward as possible, and our approachable team will work with you to offer the best products and services possible.
Our fixed rate deposits help to protect your savings from interest rate fluctuations and you will know exactly what interest rate you will earn for the set period of the product. Terms are available for 1 or 2 years. Interest is posted annually on 31st December and at maturity, and can either be paid to a Harrods Call Deposit Account or be added to your Fixed Rate Deposit Account. However, no withdrawals are permitted and your capital must remain in the account until the maturity date. You can enjoy peace of mind knowing exactly how much interest you will earn and we will write to you before the account matures to enable you to consider your options.
All eligible deposits held with Harrods Bank are protected the Financial Services Compensation Scheme (“FSCS”), the UK’s deposit protection scheme. Please click here for more details.
Please note we are changing the rates on two products at 17:00 GMT on Monday 16th October 2017.
The 18 month fixed rate deposit Issue 21 paying 1.95% gross will be replaced with Issue 22 paying 1.50% gross.
The 2 year fixed rate deposit Issue 21 paying 2.05% gross will be replaced with Issue 22 paying 1.55% gross.
Applications commenced online after this time will be processed for the new products.
For products available to customers with maturing savings accounts please click here.