What is the interest rate?
3.90% Gross/AER*

The interest is calculated daily using the cleared balance of the account and paid annually on 31st October, and at the point of closing your account.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?
Yes. The interest rate is variable and can therefore move up and down. Please see clause A4.3 – A4.5 (inclusive) of our Terms and Conditions for further information.

What would the estimated balance be after 12 months? The following projections are based on an initial deposit of £5,000.00:
£5,195.00.

This assumes the interest rate does not change and assumes that no withdrawals or deposits are made during the first year. The projections provided are for illustrative purposes only and do not take into account individual circumstances.

How do I open and manage my account?
To open an account:
– Your business must be either a limited company, sole trader, education provider, club, society, trust, credit union or pension fund.
– You can open our Business accounts by either post, via an application form, or via online our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.

To manage the account:
– You can communicate and manage your account via our online banking, email, post or telephone.

Can I withdraw money?
Yes, to access your funds you must provide UTB with 30 days notice for a withdrawal.

Notice can be given by email or using the contact form on our website. Please state the name of the business, account number, amount of withdrawal and confirmation of the nominated bank account.

Additional information
– Rates correct at the time of issue. Offers can be withdrawn at any time.
– Opening the account is subject to our Terms and Conditions.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.

3.78% Gross/AER* (this is a blended rate over 12 months including the introductory bonus rate).

For the first 6 months the gross interest rate will be 4.05%, reducing to 3.50% for the remaining 6 months.

During the first 6 months a fixed introductory bonus rate of 0.55% will be applied. During the following 6 months no bonus rate will be applied.

The interest rate is variable and tracks at the Bank of England Base Rate (BoE) for the duration of the account. The Bank of England Base Rate is currently 4.25%.

First 6 months:

Remaining 6 months:

To access and monitor the Bank of England Bank Rate visit www.bankofengland.co.uk

The interest is calculated daily using the cleared balance of the account and paid annually on 31^st October, and at the point of closing your account.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?

Yes. This is a tracker variable rate and can therefore move up and down in line with the Bank of England base rate.

Any change to the BoE rate will be applied to your account within three days following the change. We will notify you of an interest rate change by letter or email as well as publishing this on our website.

United Trust Bank will not change the margin rates on this product.

What would the estimated balance be after 12 months based on a £5,000 deposit?
The estimated balance after 12 months following expiry of 6 month introductory rate and 6 months of the standard rate: £5,189.00.

The projection assumes that the BoE rate of 4.25% does not change and does not take into account fluctuation to the Bank of England Base Rate, or withdrawals or deposits made into the account.

The projection provided is for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit Union or Pension fund.
– You can open a Business savings account by post, via an application form, or online via our website: www.utbank.co.uk.
– You cannot already hold an easy access tracker account with us.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £100,000.00 per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of your business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or via a cheque. If it is not funded within the 14 days we will close the account.
– Please note, customers can only hold one easy access tracker account at any time and may only benefit from the fixed bonus period once whilst the account is open.
– We will close any additional easy access tracker accounts that are opened whilst you hold an easy access tracker account.

To manage the account:
– You can communicate and manage your account via online banking, email, post or telephone.

Can I withdraw money?
Yes. Funds will be sent to your Nominated Bank Account upon withdrawal request.

How to make a withdrawal:
Once your account is open, you can make unlimited additional deposits from and withdrawals to your Nominated Bank Account, subject to the account maximum and minimum balance requirement for your account being met.

A withdrawal request can be made via online banking, by email, in writing or using the contact us form on our website.

Please confirm your name, account number, amount of withdrawal and confirmation of your Nominated Bank Account.

If you make a withdrawal request using online banking before 5:00 PM, the funds should reach your Nominated Bank Account on the same business day. If the request is made after 5:00 PM, it will be processed the next business day.

The request must follow the signing rules and be received before 5:00 PM to be processed on the same day.

If you send a withdrawal request by post or email before 2:00 PM, the funds should reach your Nominated Bank Account on the same business day. If the request is made after 2:00 PM, it will be processed the next business day.

For more details, please refer to Sections E1.6 – E1.7 of the Terms and Conditions.

Additional information
– Rates correct at the time of issue. Offers can be withdrawn at any time.
– Opening the account is subject to our Terms and Conditions.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.

What is the interest rate?
4.25% Gross/AER*

The interest is calculated daily using the cleared balance of the account and paid annually on 31st October, and at the point of closing your account.

The interest rate tracks the Bank of England Base Rate, currently 4.25%, for the duration of the account being open.

To access and monitor the Bank of England Bank Rate visit www.bankofengland.co.uk

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?
Yes. The interest rate is variable and can therefore move up and down. Please see clause B1.4 of our Terms and Conditions for further information.

This will happen within three days following a Bank of England Bank Rate change. We will notify you of an interest rate change by letter or email as well as publishing this on our website.

What would the estimated balance be after 12 months based on a deposit of £5,000?:
£5,212.50.

The projection assumes that the Bank of England Base Rate is 4.25% and does not take into account fluctuation to the Bank of England Base Rate, or withdrawals or deposits made into the account.

The projection provided is for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?
To open an account:
– You can open our Business accounts by either post, via an application form, or online our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.

To manage the account:
– You can communicate and manage your account via our online banking, email, post or telephone.

Can I withdraw money?
Yes, to access your funds you must provide UTB with 120 days notice for a withdrawal.

Notice can be given by email or using the contact form on our website. Please state the name of the business, account number, amount of withdrawal and confirmation of the nominated bank account.

Additional information
– Rates correct at the time of issue. Offers can be withdrawn at any time.
– The Bank of England Base Rate is currently 4.25%.
– Opening the account is subject to our Terms and Conditions.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Offers can be withdrawn at any time.

Interest is paid Gross i.e. without the deduction of tax.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.