Term Deposit Account (Non-Personal)
Cater Allen offers fixed term deposit accounts for business clients with savings of £50,000 of more. Our term lengths are between 3 months and 36 months with an interest rate that is fixed on the day of deposit. These accounts are available to clients introduced to Cater Allen via a professional adviser firm.
Interest rates are fixed on the day of deposit and on the basis that you place a deposit immediately. If you are not placing your deposit on that day the rates quoted are only indicative. We only accept deposits to a term deposit account via electronic transfer. Your current provider may charge you for this service. If a payment is being sent from abroad, there will be a charge depending on the currency and where it has been sent from. Please see our banking tariff for details. No withdrawals/closures are permitted during the fixed term. However, should there be extenuating circumstances, early withdrawal/closure will be considered, at the complete discretion of Cater Allen Limited. In these instances your account will only be credited with the capital. In the event of the death of the holder of the account, the capital will be repaid with interest earned to date.
We provide a choice of options at maturity;
- an instruction can be given for us to automatically roll over the deposit, together with accrued interest into another fixed term at the then applicable rate until further notice
- the capital alone can be rolled-over into a new term deposit with the accrued interest paid into a pre-nominated bank account.
- both capital and accrued interest can be transferred into a pre-nominated bank account
- if we have received repayment instructions from you, your deposit will be sent by electronic transfer into a bank account in your name. A fee may be payable for this, please see our banking tariff for details
- all written instructions for maturing term deposits should be made using the Term Deposit Maturity Options Form .
Please see the Term Deposit Account Factsheet and Non-Personal Terms and Conditions for more information.
Available fixed rates are updated daily and can be found on our Interest Rates page.
12 month Term Deposits are also available in Euro and US Dollar currency options. Please note that currency exchange rates can fluctuate. If your deposit into a US Dollar Term Deposit is in a currency other than US Dollars, or into a Euro Term Deposit is in a currency other than euros, it will be subject to the rate of exchange advertised on the Cater Allen site; - www.caterallen.co.uk/foreign-exchange-rates at the date of your deposit. At maturity, if you ask us to pay your funds to you in a currency other than US dollars for a US Dollar Term Deposit, or euros for a Euro Term Deposit, the rate of exchange advertised on www.caterallen.co.uk /foreign-exchange-rates on the date of transfer will apply.
If you require rates for these currency deposits please contact us on 0800 092 5500. Calls may be recorded or monitored.
How to apply
It is extremely important that clients fully understand the account, the interest rates and the relevant Terms and Conditions before submitting the application.
If you are not a professional adviser and are looking to apply for an account for a business, trust, charity, pension scheme, wrap, society, club, association or a church body/place of worship, then please call us on 0800 092 3300. Calls may be recorded or monitored.
All clients must:
- Read and print or save all the below documents this must include the Depositor Protection - Information Sheet and Exclusions List
- Visit the interest rates page relevant to the Account
- View the banking tariff
- Complete, print and sign the application form
- Post the form to us along with all necessary ID
Each application will usually be processed within 5 days of us receiving it as long as the application is completed correctly and accompanied by all required documents.
Please note, application forms posted to Cater Allen which are incorrect or incomplete will be automatically returned. If you need assistance when completing a form we are happy to help; please call us on 0800 092 3300 or contact your relationship manager. Calls may be recorded or monitored.