United Trust Bank has re-entered the variable business market and has taken the charts by storm, with its notice accounts holding their own among the competition.
100 Day Notice Business Deposit pays 1.10% yearly while its 200-day notice counterpart offers a competitive 1.25%, both on a minimum investment of £500, meaning they each secure chart positions.
Meanwhile, the charity version of the accounts – 100 and 200 Day Notice Charity Deposit – pay 1.25% and 1.30% respectively, this time on a minimum investment of £5,000, which again sees them enter the Moneyfacts charts for their sector.
All accounts can be managed by post or in branch and welcome further additions, and withdrawals will be permitted subject to the required notice periods being given.
The business accounts don't allow earlier access, however the charity versions allow one instant access penalty-free withdrawal of up to 20% of the balance per year, after which the notice period will need to be served.
Versions of the business accounts are also available for personal banking customers paying the same rates.
This re-entry into the market sees United Trust Bank shake up the charts, with these highly competitive accounts sitting among the market-leaders for their respective terms. They're likely to appeal to businesses and charities seeking returns without the long-term commitment, and with careful management of the required notice periods they could become a popular choice.
Moneyfacts rating: Excellent
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