Business Accounts
United Trust Bank offers straightforward products with competitive interest rates, no hidden charges and outstanding service from our dedicated deposits team.
All of our interest rates are shown below.
Fixed Term Bonds
Business 1 Year BondDetails1.65%Gross/AER
Summary box
What is the interest rate?
1.65% Gross/AER
Interest paid on maturity.
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?
No. The interest rate is fixed for the term of the bond. Interest is calculated daily using the cleared balance of the account.
What would the estimated balance be after 1 year based on a £5,000 deposit?
£5,082.50
The Business 1 Year bond pays interest on maturity. The projection provided is for illustrative purposes only and do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
•You can open our Business accounts either by post, via an application form, or online on our website, www.utbank.co.uk.
• The minimum deposit is £5,000.00 per account.
• The maximum deposit is £1 million per account.
• A Nominated Bank Account must be provided when applying for an account. The Nominated Bank
Account must be a transactional UK Bank account where electronic payments can be made and received. The Nominated Account must be in the name of the Business.
• You have 14 days after submitting your application to fund your account. Funds need to be sent from your Nominated Account and can be made either electronically or by cheque. If it is not funded at the end of 14 days we will close the account.What happens at maturity?
• We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
• You can ask us to repay your funds or reinvest some or all of it into one or more new accounts.
• If you ask us to repay your money we will do this by sending an electronic payment to your Nominated Account.
• If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will make a full repayment electronically to your Nominated Account.
•You can open our Business accounts either by post, via an application form, or online on our website, www.utbank.co.uk.
• The minimum deposit is £5,000.00 per account.
• The maximum deposit is £1 million per account.
• A Nominated Bank Account must be provided when applying for an account. The Nominated Bank
Account must be a transactional UK Bank account where electronic payments can be made and received. The Nominated Account must be in the name of the Business.
• You have 14 days after submitting your application to fund your account. Funds need to be sent from your Nominated Account and can be made either electronically or by cheque. If it is not funded at the end of 14 days we will close the account.What happens at maturity?
• We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
• You can ask us to repay your funds or reinvest some or all of it into one or more new accounts.
• If you ask us to repay your money we will do this by sending an electronic payment to your Nominated Account.
• If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will make a full repayment electronically to your Nominated Account.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
Interest may be withdrawn annually on the anniversary.
Additional information
Opening the account is subject to our Terms and Conditions. Offers can be withdrawn at any time.
Interest is paid Gross i.e. without the deduction of tax.
Tax treatment depends on individual circumstances and could change in the future.
Business 2 Year BondDetails1.75%Gross/AER
Summary box
What is the interest rate?
1.75% Gross/AER
Interest paid annually.
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?
No. The interest rate is fixed for the term of the bond. Interest is calculated daily using the cleared balance of the account.
What would the estimated balance be after 2 years based on a £5,000 deposit?
£5,176.53
For this example the interest has been compounded. The projection 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 either by post, via an application form, or online on our website, www.utbank.co.uk.
• The minimum deposit is £5,000.00 per account.
• The maximum deposit is £1 million per account.
• A Nominated Bank Account must be provided when applying for an account. The Nominated Bank
Account must be a transactional UK Bank account where electronic payments can be made and received. The Nominated Account must be in the name of the Business.
• You have 14 days after submitting your application to fund your account. Funds need to be sent from your Nominated Account and can be made either electronically or by cheque. If it is not funded at the end of 14 days we will close the account.What happens at maturity?
• We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
• You can ask us to repay your funds or reinvest some or all of it into one or more new accounts.
• If you ask us to repay your money we will do this by sending an electronic payment to your Nominated Account.
• If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will make a full repayment electronically to your Nominated Account.
•You can open our Business accounts either by post, via an application form, or online on our website, www.utbank.co.uk.
• The minimum deposit is £5,000.00 per account.
• The maximum deposit is £1 million per account.
• A Nominated Bank Account must be provided when applying for an account. The Nominated Bank
Account must be a transactional UK Bank account where electronic payments can be made and received. The Nominated Account must be in the name of the Business.
• You have 14 days after submitting your application to fund your account. Funds need to be sent from your Nominated Account and can be made either electronically or by cheque. If it is not funded at the end of 14 days we will close the account.What happens at maturity?
• We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
• You can ask us to repay your funds or reinvest some or all of it into one or more new accounts.
• If you ask us to repay your money we will do this by sending an electronic payment to your Nominated Account.
• If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will make a full repayment electronically to your Nominated Account.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
Interest may be withdrawn annually on the anniversary.
Additional information
Opening the account is subject to our Terms and Conditions. Offers can be withdrawn at any time.
Interest is paid Gross i.e. without the deduction of tax.
Tax treatment depends on individual circumstances and could change in the future.
Notice Accounts
Business 100d Notice Account Details1.50%Gross/AER
Summary box
Account name
Business 100d Notice Account
What is the interest rate?
1.50% Gross/AER
Interest paid annually on the 31st October.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
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 17 of our Terms and Conditions for further information. Interest is calculated daily using the cleared balance of the account.
What would the estimated balance be after 1 year based on a £5,000 deposit?
£5,075.00
This projection assumes the interest rate does not change and assumes that no withdrawals are made during the first year.
The projection provided is for illustrative purposes only and do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
•You can open our Business accounts either by post, via an application form, or online on our website, www.utbank.co.uk.
• The minimum deposit is £5,000.00 per account.
• The maximum deposit is £1 million per account.
• A Nominated Bank Account must be provided when applying for an account. The Nominated Bank Account must be a transactional UK Bank account where electronic payments can be made and received. The Nominated Account must be in the name of the Business.
• You have 14 days after submitting your application to fund your account. Funds need to be sent from your Nominated Account and can be made either electronically or by cheque. If it is not funded at the end of 14 days we will close the account.
How to place notice on an account:
• Notice cannot be placed for the first three months from account opening.
• Appropriate notice must be given on all withdrawals in writing.
• Please state your name, account number, amount of withdrawal, confirmation of the nominated bank account and signature.
Can I withdraw money?
Business 100d Notice Account 100 days’ notice is required for withdrawals
Additional information
Opening the account is subject to our Terms and Conditions. Offers can be withdrawn at any time.
Interest is paid Gross
Tax treatment depends on individual circumstances and could change in the future. Balances that fall below £5,000.00 will cease to attract interest.
Business 200d Notice AccountDetails1.55%Gross/AER
Summary box
Account name
Business 200d Notice Account
What is the interest rate?
1.55% Gross/AER
Interest paid annually on the 31st October.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Interest paid annually on the 31st October.
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 17 of our Terms and Conditions for further information. Interest is calculated daily using the cleared balance of the account.
What would the estimated balance be after 1 year based on a £5,000 deposit?
£5,077.50
This projection assumes the interest rate does not change and assumes that no withdrawals are made during the first year.
The projection provided is for illustrative purposes only and do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
•You can open our Business accounts either by post, via an application form, or online on our website, www.utbank.co.uk.
• The minimum deposit is £5,000.00 per account.
• The maximum deposit is £1 million per account.
• A Nominated Bank Account must be provided when applying for an account. The Nominated Bank Account must be a transactional UK Bank account where electronic payments can be made and received. The Nominated Account must be in the name of the Business.
• You have 14 days after submitting your application to fund your account. Funds need to be sent from your Nominated Account and can be made either electronically or by cheque. If it is not funded at the end of 14 days we will close the account.
How to place notice on an account:
• Notice cannot be placed for the first three months from account opening.
• Appropriate notice must be given on all withdrawals in writing.
• Please state your name, account number, amount of withdrawal, confirmation of the nominated bank account and signature.
Can I withdraw money?
Business 200d Notice Account 200 days’ notice is required for withdrawals
Additional information
Opening the account is subject to our Terms and Conditions. Offers can be withdrawn at any time.
Interest is paid Gross
Tax treatment depends on individual circumstances and could change in the future. Balances that fall below £5,000.00 will cease to attract interest.
Other Information
| Contact Details | Tel: 020 7190 5599 Email: [email protected] Website: www.utbank.co.uk Address: One Ropemaker Street, London, EC2Y 9AW |
| Regulating Bodies | Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. |
