What is the interest rate?
4.65% Gross/AER* – On all balances between £5,000.00 – £9,999.99.

4.75% Gross/AER* –  On the full balance, for balances of £10,000 and above.

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. 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 based on two example deposit amounts?

Deposit at Account Opening	Balance after 12 Months
£5,000.00	£5,232.50
£10,000.00	£10,475.00

This assumes the interest rate does not change and no withdrawals or deposits are made during the 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:
– You need to be 18 or over and permanently reside in the United Kingdom.
– The account can be held jointly by up to two people.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £1m per account.
– You can open our personal accounts online at our website, www.utbank.co.uk.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in your name.
– 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 portal, email, post or telephone.

Can I withdraw money?
Yes, however 30 days’ notice is required for any withdrawals or closure.

Notice can be given by email or using the contact form on our website. Please state your name, 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 Offers can be withdrawn at any time.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 ie. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Personal 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?
– 5.00% 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 5.00%, for the duration of the account being open.

To access and monitor the Bank of England Base 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 Base 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 £5,000 deposit?
£5,250.00.

The projection assumes that the Bank of England Base Rate is 5.00% 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 need to be 18 or over and permanently reside in the United Kingdom.
– The account can be held jointly by up to two people.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £1m per account.
– You can open our personal accounts online at our website, www.utbank.co.uk.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in your name.
– 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 portal, email, post or telephone.

Can I withdraw money?
Yes, however 180 days’ notice is required for any withdrawals or closure.

Notice can be given by email or using the contact form on our website. Please state your name, 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 5.00%.
– 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 Personal 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.