Matured Funds Access Account
- Access Account
- No partial withdrawals permitted; full closure only
- Deposit of maturing balance only; no further funds can be added
- Interest paid annually
- Interest paid into a Nominated Account or credited to this Account
- Statements will be issued annually
- Maximum account balance £1,000,000 (excluding credit interest)
- Maximum aggregate balance across all products held for Personal Customers is £1,000,000
- Account can be managed by Internet Banking or by phone
- Statements are provided via Internet Banking, with the ability to download and print or the option to change to paper if required
Pros and cons
- Access your money without notice
- Manage your account online or by phone
- No further funds can be added
- No partial withdrawals allowed
- Interest rate is variable - could increase or decrease
Matured Funds Access Account
What is the interest rate?
1.15% AER* / 1.15% gross pa
Interest is calculated daily and paid on 31 December. Your interest will be added to your Matured Funds Access Account or paid away to your Nominated Account, as per your maturing Bond.
Can Secure Trust Bank change the interest rate?
Yes, we can vary your interest rate. We will notify you as per your Terms and Conditions - please see clause 13 of the General Terms and Conditions for more information.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Your estimated balance would be £1,011.50 based on a deposit of £1,000 after 12 months.
This is for illustrative purposes only, does not take into account individual circumstances and makes the following assumptions:
- Your initial deposit is paid into the Account when it is opened
- No further deposits are made/allowed
- Interest is added to your Account
How do I open and manage my account?
An account will automatically open following the maturity of your Fixed Rate Bond where no instructions are received.
Deposits into the Account will be from your existing Fixed Rate Bond only; no subsequent deposits will be accepted.
How to manage the account:
Accounts are managed by Internet Banking or by telephone on 0345 111 7092.
Statements are provided via Internet Banking, with the ability to download and print or the option to change to paper if required.
Can I withdraw money?
Partial withdrawals are not permitted from this Account. You can withdraw your funds from this Account in full at any time without giving notice by logging in to Internet Banking and requesting a closure.
Any interest earned will be paid gross; we will not deduct tax from interest accrued on your savings. Tax treatment may be subject to change in the future. For more information, please visit HMRC at www.gov.uk
The following services are subject to a charge:
- Duplicate statement £5 / item
- Payment requested by CHAPS £20 / item
- BACS recall £30 / item
- BACS trace £15 / item